Graham was stopped by officers on Friday night after a report that he was wandering in traffic and acting erratically, a Newport Beach police spokesperson said. He was booked on suspicion of being under the influence of a controlled substance.
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The Saints announced Graham has been evaluated by team doctor John Amoss, was released from a hospital on Saturday morning and was back with the team as it prepared for a preseason game on Sunday night against the Chargers.
The team said Amoss determined Graham "likely" was suffering the effects of a seizure when he was apprehended on Friday night. Graham spent the night under medical supervision and testing, the team said.
"Amoss met Graham at the hospital and is overseeing his care at this time," the Saints' statement said.
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It was not immediately clear whether the 36-year-old Graham would be available to play on Sunday.
Graham is a five-time Pro Bowl player who spent last season out of football but returned to the league last month when he signed a one-year contract with New Orleans. He spent his first five seasons with the Saints before stops in Seattle, Green Bay and Chicago.
The Associated Press contributed to this report.