The 28-year-old was arrested in north Belfast after a shot was fired as an Orange Order parade passed through the flashpoint on 13 July.
The man is being questioned in Antrim police station.
The arrest comes after police were again attacked by rioters last night.
Petrol bombs and paint were thrown at the PSNI from a large crowd that gathered in the Brompton Park area of the Crumlin Road in north Belfast, close to where the trouble flared earlier in the week.
The latest disturbances lasted for around three hours.
Meanwhile, stones and golf balls were thrown at an interface area in the east of the city last night.
The incident happened near the Short Strand area of the lower Newtownards Road.
Elsewhere, Armagh PSNI officers are investigating reports that a bus was attacked with a petrol bomb and bricks in Lurgan.
Last night's disturbances come 24 hours after some of the most serious rioting seen in Northern Ireland for years.
