Police did not release the suspect's name, but said he falls under the "Savile and others" strand of their investigation.
The newest suspect, identified only as "Yewtree 2," is from Warwickshire and in his 60s, according to a statement from British police.
Profile: National treasure in life, reviled 'sex abuser' in death
A London man, who British media reported to be 1970s pop star Gary Glitter, was arrested Sunday.
A TV documentary a month ago detailed allegations of sexual abuse against Savile, who died last year. Police investigating the scandal are dealing with about 300 apparent victims, Cmdr. Peter Spindler told reporters.
Read more: Former BBC chief explains dropped Savile investigation
Savile's targets were apparently girls in their mid-teens in what Spindler said was "alleged abuse on an unprecedented scale."
The British TV icon died in October 2011 at age 84. But authorities have said they are preparing an arrest strategy for others, still living, against whom allegations have been made in connection with the Savile case.
Read more: How celebrity child sex scandal has rocked the BBC
Countless Britons who grew up watching Savile on TV's "Top of the Pops" and his children's program "Jim'll Fix It" have been left reeling by the slew of claims against him in the past month.
The reputation of the British Broadcasting Corporation, his former employer, has also been tainted by the scandal amid questions over how his abuse went undetected, and its decision to drop a program investigating allegations against him last year.
Read more: Relatives of disgraced Savile voice their anguish
"Now the BBC risks squandering public trust because one of its stars over three decades was apparently a sexual criminal; because he used his programme and popularity as a cover for his wickedness; because he used BBC premises for some of his attacks; and because others -- BBC employees and hangers-on -- may also have been involved," BBC Chairman Lord Patten wrote in an editorial published Sunday in the Daily Mail.
The BBC has said it is horrified by the revelations and has launched two independent inquiries.