Hmmm oxygen? Going at such high speeds means he needs a lot of oxygen. I mean, he'd probably need massive amounts of food and water as well to keep going, but you can't really control that... If you can saturate a particular area with a bunch of chemicals that suck out oxygen, and trick the speedster into the area, you'd have a fair chance of catching him.
The chemicals used have to suck out most of the oxygen from the air. Perhaps place the chemicals (in crystal form or in huge hidden vats) in your trap area. Of course, timing is important. The chemicals can only be exposed to start working moments before the speedster arrives. Also, for obvious reasons, your team would either need to be far away (not likely) or be equipped with oxygen tanks.
Lure the speedster into the trap somehow. (Due to the lack of adequate info in the question, I can't say how to lure him. If he's a villain, put jewelry or other steal-able stuff. If he's a hero, lure him with a helpless victim or a scream for help.) Alternatively, set the trap up around his home, and activate it once he gets comfortable. Then he'll be trapped by the lack of oxygen long enough for your team to move in and put him in a cage or something. (Again, due to lack of info, not sure what kind of cage would the speedster be vulnerable to. Best bet, go with those electricity-induced laser bars things. You know, if you try to put your hand through, it'll just get sliced off...)
Yes, him being a speedster means he should be able to run out of the trap really fast. But because he's so fast, he really needs the oxygen, or he'll also suffocate really fast. So the faster he can go, the more he'll need oxygen, and the easier it'll be to trap him this way. If you really want to take him alive, wait till he drops of oxygen deprivation, cage him, then quickly give him an oxygen mask again to resuscitate him. If not... Well, the chemicals would do your work for you...