James Alex Fields of Ohio's arrest was confirmed by the local jail superintendent and he is currently being held without bail for the murder of a 32-year old woman.
"I am heartbroken that a life has been lost here," tweeted Charlottesville Mayor Michael Signer.
Nineteen people are being treated for serious wounds and five are said to be in a critical condition.
Fields was also charged with malicious wounding and hit and run charges.
A video of the incident went viral on social media after the event, showing a grey Dodge Challenger accelerate and crash into the crowd before reversing and escaping at speed.
Helicopter crash
Two people were confirmed killed on Saturday evening after a police helicopter crashed in the north west of the town.
Virginia state police confirmed that Lieutenant H. Jay Cullen and Trooper-Pilot Berke M.M. Bates were killed in the crash.
President Donald Trump tweeted his condolences for the two officers minutes after the crash - but did not make any comment on the death of the 32-year old woman earlier in the day.
"Deepest condolences to the families & fellow officers of the VA State Police who died today," tweeted Trump.
Rioting broke out in the centre of the town after a group of white supremacists protested the removal of a statue to the pro-slavery Civil War general Robert E. Lee.Counter protests broke out after videos emerged of the protesters making Nazi salutes and chanting racist slogans.