Legal sources in Yucatan state told ESPN that Arozarena was released from all charges when he reached an agreement with his former partner, who determined not to take legal action against the Rays player.
A hearing scheduled for Thursday in Yucatan was suspended.
The Rays had said Tuesday that they were aware of the reports that Arozarena had been detained.
Arozarena hit .377 with 10 home runs and 14 RBIs in 20 postseason games for Tampa Bay. He was named MVP of the American League Championship Series.