King was arrested Monday after a traffic stop in which he wasn't driving but was found to have an outstanding warrant. Authorities said he had failed to appear in court to address a ticket he received for allegedly driving 76 mph in a 55 mph zone in June.
The Athens (Ga.) Banner-Herald said King was the 11th Georgia football player arrested this year. He was held for several hours in the Clarke County Jail before being released.
Georgia Coach Mark Richt said King will be benched for Saturday's games against Vanderbilt and the following week's game at Kentucky.
"I expect all our players to take care of their responsibilities on and off the field," Richt said. "When players don't do that it damages the reputation of the player, our team and our university. My goal is for Caleb to learn a lesson and for other players to learn from his experience."
King is the Bulldogs' second-leading rusher this season. He has run for 228 yards and one touchdown.