Defendant Reece Waring arranged for a taxi to come and collect him from a street near the hotel he was calling from in Blackburn at around 8.40am on September 6, 2021.
When the taxi arrived, Waring sat in the front passenger seat before claiming he was from Salford, but police said he "was unable to say exactly where from".
When the taxi dropped him off at the pre-booked location in Bunkers Hill, the 22-year-old produced a knife before demanding all of the taxi driver's money.
After the taxi driver told Waring to get out of his vehicle, the defendant put the knife to his throat before demanding cash again.
The victim managed to release his seatbelt and get out of the car unhurt while Waring ran away from the scene with £70 in cash.
Waring was arrested three days later after police trawled through CCTV footage from the area and got a description of the suspect from the victim.
DC James Wilde, of Lancashire Police, said: "This was a premeditated and cowardly offence committed against a completely innocent victim who was just trying to make an honest living.
"Waring armed himself with a weapon and got into that taxi knowing there was going to be a confrontation - one that could have easily led to the victim losing his life."
Waring, formerly of Fearnlea Close, Blackburn, but now of no fixed address, was charged with criminal damage and robbery.
He was convicted of robbery and possession of an offensive weapon and sentenced at Preston Crown Court on Monday (February 21) and sentenced to four years in prison.
"I am pleased the courts have recognised the seriousness of Waring’s actions and I hope he uses his time in custody to reflect on his appalling actions," DC James Wilde added.
"I would also like to thank everybody who worked on securing this conviction.
"That work has led to a dangerous individual being taken off the streets."
It is thanks to our loyal readers that we can continue to provide the trusted news, analysis and insight that matters to you.
For unlimited access to our unrivalled local reporting, you can take out a subscription HERE and help support the work of our dedicated team of reporters.