Paul Crabtree, 43, of Lewisham High Street, has been sentenced to two years and 11 months in prison for possession with intent to supply class A drugs and four months for possession of a bladed article.
Police were called to Bread Street near to St Paul’s Cathedral, to reports of people using nitrous oxide balloons in a car on July 2 last year.
City of London Police officers arrived at the scene and during a search, 27 wraps of cocaine and around £10,000 in cash were found in a bag which Crabtree had on him.
After searching the car, the large Rambo-style knife was found inside a separate bag along with 21 nitrous oxide cannisters.
Crabtree was also sentenced to four years for conspiracy to burgle offences, in a separate investigation by Kent Police.
He will be serving six years and 11 months in total in prison.
Police Constable Pradip Gurung, of Criminal Investigation Department in the City of London Police, said: “People carrying these Rambo-style knives are doing so to intimidate and cause fear. Paul Crabtree was dealing drugs and carrying a lethal Rambo-style knife.
“Drugs in London severely impact our communities, drive violence and organised crime and can lead to vulnerable people being exploited.
“City of London Police are committed to bringing organised crime groups to justice and making our streets safer.”