The weapon had been discarded in undergrowth in a residential area.
A spokesman for Morecambe Area Police said: "We're here to help make our streets safer, so if you have any knives you wish to dispose of safely please contact us via 101 (non emergency) or alternatively you can dispose of them at our knife bins on Central Drive in Morecambe (rear of the youth shelter) and under Carlisle Bridge on the cycle track.
"We would encourage anyone with information about knife crime in Lancashire to contact the police or independent charity Crimestoppers on 0800 555 111."
Police are currently undertaking Operation Spectre, a national week of intense action to help raise awareness of the dangers of knife crime and the work being done to stop it.
During the last Operation Sceptre in Lancashire more than 950 weapons were taken off the county's streets and 77 people were arrested.