The former Brentford and Birmingham City striker has been confirmed as being among six people who have been questioned over allegations of spot-fixing
The 32-year-old was taken into custody as part of an operation by the National Crime Agency (NCA) looking into allegations of illegal activity around matches in the UK.
A statement released on Blackburn's official website read: "Following reports in today's national media, Blackburn Rovers can confirm that striker DJ Campbell has been arrested.
"The club will be making no further comment on what is now an ongoing legal matter."
Campbell - who has played for a host of English clubs, including Birmingham City, Brentford, Leicester City and QPR - has not been charged but is helping police with their inquiries.
The news comes after the NCA launched a second match-fixing probe on Sunday following information passed to them by a national newspaper.
The paper claimed to have evidence of a player willing to arrange a yellow card in a Championship fixture in return for money.
Five of the six people arrested were bailed on Sunday night, with a sixth also bailed the following evening.
A statement from the NCA read: "The NCA can confirm that the Sun on Sunday has passed material from its own investigation to the National Crime Agency.
"An active NCA investigation is now under way and we are working closely with the Football Association and the Gambling Commission.
"Five people were arrested on Sunday morning, and bailed that evening until April 2014. The sixth individual arrested was released on bail this evening (Monday) until April 2014."
The Football League released a statement of their own in response to the allegations, with chief executive Shaun Harvey saying: "We treat any allegations of criminal activity in our competitions with the utmost seriousness.
"Given that there is an ongoing Police investigation into this matter, we cannot comment further at this time. Although we would encourage anyone with any evidence to report it to the Police.
"We will be giving our full assistance to the Police during their investigation."
The NCA is already conducting a separate investigation into alleged football match-fixing, after launching a probe into a suspected international betting syndicate last month.
Four men, including two Conference South players, have been charged with conspiracy to defraud as part of those inquires.