Deleriyes Joe Cramer, who was known as Joey Cramer when he starred in the 1986 movie, was arrested in Gibsons, British Columbia.
The robbery took place in nearby Sechelt on the Sunshine Coast.
Royal Canadian Mounted Police issued a statement saying the 42-year-old had been charged with four offences relating to the bank robbery.
Cramer, who lives in Gibsons, was in a number of films as a child actor, including Runaway with Tom Selleck and The Clan of Cave Bear with Darryl Hannah.
His biggest film was the box office hit Flight of the Navigator, in which Cramer played the lead character David Freeman.
He was nominated for the Young Artist Award by the Academy of Science Fiction, Fantasy and Horror Films in 1987.
His last credited role was on the 1987 TV movie Stone Fox.
Police say a disguise was used in the bank robbery. They have requested anyone with additional information, including information about a man purchasing or discarding a disguise involving a shoulder-length wig, bandana, and dark jacket with a reddish design on the back, to contact Sunshine Coast police.
Cramer is facing charges including robbery, disguise with intent to commit an indictable offence, failure to stop for a police officer and dangerous operation of a motor vehicle.
He is next due in court on 10 May at North Vancouver Provincial Court.
The former child star of '80s film Flight of the Navigator has been charged with bank robbery in Canada.