The Los Angeles Police Department said in a statement given to CNN that Sharper, 38, was arrested Friday afternoon by its sexual assault squad in connection with "two sexual assaults in west Los Angeles" -- one in October and one this month.
Sharper, 38, of Miami, was released from jail after posting a $200,000 bond just before midnight Friday, LAPD spokeswoman Sally Madera said.
Jail records indicated he is set to appear in court Feb. 14 for arraignment.
New Orleans police spokeswoman Remi Braden told CNN Sharper is also being investigated in connection with an alleged Sept. 24 sexual in that city.
Sharper, who played for Green Bay, Minnesota and New Orleans during a 14-year career, has been suspended from his analyst post with the NFL Network, the broadcaster said in a statement issued to NFL.com.
The defensive back played in Super Bowls with the Packers in 1998 and with the Saints in 2010.