The officers also seized a motorcycle, a motorcycle taxi driver's uniform and a black helmet as evidence.
The crackdown followed a complaint by a South Korean victim who told police on Monday that his bag was snatched by a motorcycle taxi driver while he was walking along Sukhumvit Road.
The victim added that his bag contained a smartphone, wallet, driver's licence, credit cards, car key and Bt800 cash.
Investigation officers checked Phitsanu's escape routes via closed-circuit television cameras on Sukhumvit Soi 27 where the incident had occurred until they were able to arrest him.
During interrogation, Phitsanu reportedly pleaded guilty that he had stolen foreigners' bags on Sukhumvit Road and at tourist attractions to buy drugs, adding he mainly targeted Koreans and Japanese who walked along the road at night.
He also admitted that he had committed the crime three times in the Thonglor Police Station area and once in the Bang Rak Police Station area.
According to Phitsanu's background, he had been arrested in the case of stealing properties in Makkasan Police Station area in 2014 and then released in July 2015.
"He has been charged with stealing properties by using a vehicle to facilitate escape," the investigation officer said.