The boy, Joseph Mister II, was reported missing near the intersection of South Figueroa Street and West 109th Place, according to an alert issued by the California Highway Patrol.
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CHP said the child was believed to be with a woman identified as 29-year-old Daisy Serrano, who also goes by the name "Lady CK."
Investigators did not disclose the nature of their relationship or if Serrano is the boy's mother.
Authorities listed the boy as an "at-risk" missing toddler but a few hours later, CHP announced he had been found safe.
No further information was provided.