FBI agent, Laura Eimiller, said Preciado was arrested by Mexican police and FBI agents Friday night.
Authorities said Preciado shot two deputies, one in the head, in September 2000. Deputies Michael Schapp and David Timberlake both survived the shooting.
Agents zeroed in on his location after a home video surfaced three months after the shooting showing Preciado dancing at a party in Tepuzhuacan.
More details will be released at a news conference Monday to be held by the FBI and Sheriff's Department, at which the two deputies are expected to attend.