Police confirmed that officers arrested a man in his 50s at a Wolseley Road property in the early hours of the morning before charging him with assault.
The New Zealand-born star was released on bail and is reportedly set to appear in Waverley Local Court relating to the incident today.
Last week the pair presented a united front at a fashion event in Sydney.
According to reports from Channel Nine, the incident allegedly occurred after Meares, who is the former wife of casino mogul James Packer, discovered text messages on Steven's phone. Meares is believed to have sustained minor injuries on her wrist.
Stevens was then arrested and charged with assault. It is believed the AVO could be dropped.
Stevens, who used to play with INXS, had been due to play several gigs this week but the shows have now been cancelled, with concert-goers offered refunds.
Only last week the couple seemed to be very much together, with Stevens lashing out at Meares' detractors in some fiery posts on Facebook.
It is yet another public drama Meares will feel she could do without after her drink driving crash in June 2014.
The fashion designer appeared in court in August, but escaped with just a 12-month driving ban and a fine, despite recording a blood alcohol level of 0.181 and rolling her Range Rover.
Her lawyer said the former model weighed about 48.5 kilograms and had drunk "about four and three-quarter" glasses of red wine over four and a half hours and eaten just a small piece of lamb.
At the time, her solicitor Chris Murphy said Meares had been "haunted" by her marriage to Packer, which lasted from 1999 until they separated in 2002.
"She was married for just over two years [to James Packer] and that haunts everything that's said about it [the marriage]," he said.
"She's not a celebrity, she's not a movie star. She was raised by a single mother. They moved apartments every four months. There were four children, she went to three different high schools.
"She had the good fortune to make money in modelling, and in the late 1990s, she created the label Tiger Lily, and married James Packer."
Just last week, an account in the name of Jon Stevens didn't take well to some people on social media criticising Meares for the drink driving incident.
One user commented: "Hope she doesn't get p***** & stack her 4wd afterwards." Stevens hit back, writing: "Hope you don't choke on your own vomit."
He wasn't finished there, the rant posted in the early hours of Thursday continuing:
"Your poor taste just shows what a pathetic person you must be ... as with everyone makes mistakes and nobody got hurt in Jodhi's accident thank god ... and she completely put her hand up and took full responsibility for her actions which I reckon you don't know how to do that coz you must be perfect? But I doubt it very much as clearly you are a very boring person that has never made a mistake in your life..."
The user replied: "No I'm not perfect Jon but I have lost a family member through the actions of a drink driver."
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