Published Tuesday, 10 June 2014
The scene of the explosion in Belfast''s Cathedral Quarter. (© Christopher Caldwell)
Detectives from Serious Crime Branch made the arrest in north Belfast on Tuesday morning.
The suspect, 41, has been taken to the Serious Crime Suite at Antrim police station for questioning.
Dissident republican grouping Óglaigh na hÉireann claimed responsibility for leaving the device in a black sports bag in the Exchange Street West area of Cathedral Quarter on the evening of Friday, 13 December.
It caused a small explosion which police said had the potential to kill.
Around 1,000 people were evacuated from restaurants and other premises, including a hotel, The MAC, the cathedral and apartments, on one of the busiest nights in the run-up to Christmas.
No-one was hurt when the device went off on the footpath while the area was being cleared, about an hour after a warning call was received by the Irish News which contained incorrect details.
Detectives are continuing to appeal for anyone with information about the identity of a man on a bicycle in Talbot Street and in St Anne's Square, who they believe to be the person who left the holdall containing the bomb in Exchange Street West.
He was wearing a black hoody and carrying a black Slazenger holdall.
Anyone with information is asked to contact detectives at 9180 1507 or information can be provided anonymously to the independent charity Crimestoppers on 0800 555 111.
© UTV News