The 29-year-old was shot dead in the Asda car park in Saughs Road, in the city's Robroyston area, on 13 January.
He allegedly had links to organised crime in Glasgow and had survived two previous attempts on his life.
The 28-year-old man being detained in connection with Mr Carroll's death is expected to appear at Glasgow Sheriff Court on Monday.
Mr Carroll was shot several times while sitting in the rear of a black Audi car.
Guns used in the shooting were found by a member of the public behind Coatbridge library in North Lanarkshire, almost a fortnight later.
In March, a 30-year-old man was arrested by police investigating the murder of Mr Carroll.
Craig Gallagher was later released pending further enquiries.
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