He is accused of operating fake bank accounts to transfer money out of Pakistan.
The country’s anti-corruption watchdog, National Accountability Bureau, issued arrest warrants against him on Monday.
An NAB team accompanied by police arrested him after the Islamabad High Court rejected an application seeking extension in the pre-arrest bails of Mr Zardari and his sister Faryal Talpur in the case.
However, his sister Faryal has not been arrested, news agency PTI reported.
Mr Zardari and his sister allegedly made transactions of Rs. 150 million through alleged fake bank accounts, officials told PTI.
The cases against Mr Zardari are part of the investigation being conducted by NAB in pursuance of the Pakistan Supreme Court’s verdict in a case related to the money laundering of billions through fake accounts.