Muslim Brotherhood businessman Hassan Malek was arrested at his home in New Cairo's Fifth Settlement on Thursday evening, a security source told Al-Ahram Arabic news website.
It is unclear what charges Malek was arrested on.
His family posted the news of his arrest on his daughter's Facebook page.
All of Malek’s assets have been frozen since September 2014 when the North Cairo Criminal Court upheld a decision by the prosecutor general to freeze the assets of prominent Muslim Brotherhood leaders.
Since the 1990's, Hassan Malek has been considered one of the most prominent Muslim Brotherhood businessmen along with his business partner, the now-jailed deputy chairman of the Brotherhood in Egypt, Khairat El-Shater.
Malek’s commercial and industrial ventures included textile manufacturing, electrical supplies, and furniture.
Since the ouster of Islamist president Mohamed Morsi in July 2013, Malek, who was not charged like other leading Brotherhood figures with criminal wrongdoing, has kept a low profile.
Malek’s son, Omar, was sentenced to death last April on a number of charges, including setting up an "operation room" at the protest camp that supported ousted president Mohamed Morsi in Cairo's Rabaa Al-Adawiya in 2013.
The Muslim Brotherhood was designated a terrorist organization by the Egyptian government in November 2013.