The 62-year-old was arrested in the high street of Claygate, Esher, Surrey, by officers called to reports of an assault.
It is understood that his on-off girlfriend Ekaterina Ivanova, 20, claimed he attacked her during a row.
A Surrey Police spokesman said Wood was released on bail until a date next month pending further inquiries.
A Surrey Police spokesman said: “We can confirm that a 62-year-old man from Esher was arrested last night on suspicion of assault in connection with a domestic incident in Claygate High Street.
“He has this afternoon been released on bail until a date in January pending further inquiries.”
A spokesman for Wood, David Rigg of Project Associates, said: “I can confirm that there was an incident last night and that Ronnie Wood was arrested. He has since been released on police bail.
“We have no further statement to make at this time.”
The arrest is the latest chapter in a tumultuous relationship between the ageing rocker and the former cocktail waitress.
Police were called to the couple’s £5 million home in September after one row in which it was claimed she threatened to kill herself.
Wood left his wife, Jo, for Ms Ivanova in 2008. The couple had been married for 23 years and their divorce will be finalised within weeks.
In the divorce documents, which have been made public, the person with whom the star committed adultery was not named.
However, Wood’s relationship with Ekaterina Ivanova, 20, was widely covered in the tabloid press.
Last week the lapdancing bar where Wood met Ms Ivanova was closed after a raid by vice squad officers.
Detectives said The Capricorn Club in Goodge Street, Soho, was a £1 million-a-year sex and drugs den.
One officer said the bar was an underground brothel where clients had sex in cubicles and drugs including cocaine were easily available.