Carrolton, Texas, Police Sgt. Derick Miller said Blackmon was taken into custody early Tuesday after initially being pulled over for allegedly driving 92 mph in a 60 mph zone on Interstate 35, The Oklahoman reported.
Miller said Blackmon, 20, was subjected to field sobriety tests and arrested.
The newspaper reported former Dallas Cowboys player Taylor Sokolosky posted a $375 bond for Blackmon, who leads the nation in total receiving yards (1,112) and touchdown receptions (14).
"Oklahoma State wide receiver Justin Blackmon was stopped for a traffic violation last night," Oklahoma State officials said in a statement. "Details from the incident are still being gathered by the university. Neither Blackmon nor OSU Coach Mike Gundy can comment until the matter is resolved."
The Oklahoman said Blackmon's status for the 20th-ranked Cowboys' game Saturday against Kansas State was unknown.