The bomb disposal unit was called out to Barnoldswick after part of a military shell was found.
The shell was spotted by a member of the public in the canal off Long Ing Lane on Saturday.
The North-West Underwater Search Unit was brought in and following an extensive search, the shell was located just off the canal bank.
A Royal Logistics Corps bomb disposal unit was dispatched from Chester and the item was identified as an inert tip from a First World War or early Second World War shell.
It was disposed of.