A spokesman for Northumbria police did not name the suspect, but said a 35-year-old had been arrested at 01:00 BST on Monday morning after receiving reports of an alleged rape involving a 22-year-old woman in Newcastle.
The man was arrested at an address in Newcastle an hour after police received the report.
He has since been released on bail pending further inquiries.
A statement from Solano's club (Leicester City) was released on Tuesday confirming the player was helping police with their enquiries: "Leicester City Football Club can confirm that Nolberto Solano is assisting police with their enquiries regarding an alleged incident that occurred in Newcastle over the previous weekend."