The 20-year-old Mallett was booked into the Washington County Jail at 3:47 a.m. after Fayetteville police arrested him on Dickson Street. Mallett was released on bond about an hour later.
Coach Bobby Petrino said Mallett would be disciplined.
Mallett is seen as the likely starter for the Razorbacks in 2009. He sat out 2008 after transferring from Michigan.
"I am very disappointed that Ryan Mallett put himself in a situation that doesn't reflect positively on him or on our program," Petrino said. "All members of the Razorback football team have a responsibility to conduct themselves in an appropriate manner on and off the field. While the legal process has not yet taken its course in this matter, Ryan will face internal team disciplinary action for not representing the Razorbacks in a way that is required of our student-athletes."
Spring practice starts on March 24.
The 6-foot-7 Mallett, who played in 11 games for the Wolverines in 2007, has three years of eligibility remaining.
Mallett was 61-of-141 for 892 yards with seven touchdown passes and five interceptions at Michigan, filling in for Chad Henne.
Arkansas had tried to convince the NCAA to allow Mallett to play in 2008, but was turned down.
Mallett went to high school on the Texas side of Texarkana, but lived on the Arkansas side.
Casey Dick started most games for the Razorbacks last season. His brother, Nathan Dick, started the last two games in 2008. He was granted a release to transfer from Arkansas after the season, a further indication that Mallett was expected under center for the Razorbacks.