A teenager has avoided jail for driving a car towards terrified pedestrians in Melbourne's CBD while dressed in combat gear on AFL grand final day.

The 15-year-old boy, who cannot be named because of his age, had pleaded guilty to six charges - including reckless conduct endangering life and assaulting police - over the September 30 incident last year.

A children's court judge today sentenced the teen to a 12-month youth supervision order and said she believed the boy, who has profound disabilities, posed a low risk to the community.

One police officer then sprays the teen with capsicum spray before he lunges at him, knocking the officer to the ground. (Herald Sun)

After more officers run in, the teen is tackled to the ground and hit with a stun gun. (Herald Sun)

CCTV captured the boy exiting a stolen car outside Flinders Station dressed in full combat gear, including a backpack, and armed with a knife and baton.

He refused police demands to drop the weapon and lie on the ground, with one officer spraying the boy with pepper spray before the teen lunges at him.

The policeman falls backwards onto the tram tracks before two more officers run in.

The boy is hit with a stun gun before he is taken into custody.

he boy drove at pedestrians and cyclists, doing skids and running red lights in the Melbourne CBD on AFL Grand Final day. (Herald Sun)

The arrest ended a terrifying rampage, during which he nearly pinned a pair of pedestrians against the Federation Square information centre with the car before they jumped out of the way at the last moment.

A map of Melbourne's CBD was found on his bedroom wall along with army-related items and artefacts. But it was not suggested he was trying to carry out a terror-related act.

The boy was diagnosed with autism after his arrest, with his lawyer saying the youngster struggled with the "complex" world of high school and adolescence, and had insufficient support for his disabilities".