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Police said the man was arrested at 3.40am. He is currently in custody at a south-east London police station.
The arrest comes as police revealed the pair may have been tortured for the PINs to their bank cards.
A police source told The Sun that cards belonging to biochemists Laurent Bonomo and Gabriel Ferez are missing and have been used to draw cash at ATMs. Detectives appealed to criminals to help trap the killer - or killers - who tied up and stabbed Laurent 196 times and Gabriel 47 times.
They hope to trace two Sony PSPs stolen during the slaughter at Laurent’s bedsit in New Cross, South East London, on Sunday.