According to local residents and agency reports, DJ Fox was arrested at the Soho studios of Radio Station Magic FM - where the DJ presents their breakfast show.
A spokesman for Bauer Media said: "Bauer Media can confirm that Neil Fox, presenter of the Magic Radio breakfast show, was today arrested by Westminster Police. He is currently being questioned about various allegations.
"In the circumstances Neil will be off air from tomorrow to enable him to devote his full attention to dealing with these matters. All other aspects of his contract will remain unchanged while matters are resolved. We can make no further comment at this stage."
The arrest is not part of Operation Yewtree.
Scotland Yard did not name the broadcaster, but said that a 53-year-old man was being questioned.
A spokeswoman said: "Officers from Westminster this morning arrested a 53-year-old man following allegations of historical sexual assault against two women. The man remains in custody at a central London police station. We have searched an address in SW6 and in the Littlehampton area. The man was arrested at a business address in W1."
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