The suspect, aged 30, was detained in the Newtownabbey area last night under section 41 of the Terrorism Act.
The victim was approached a number of men in an alleyway in Bawnmore Park and shot in the leg.
Detective Inspector Conor McStravick said: “The 30 year old victim, who was shot in the knee in Bawnmore Park, is thankfully recovering well in hospital.
“Officers examining the scene of the shooting have discovered that a second shot may have been fired, with the bullet striking the perimeter fence at the local youth club.
“This shooting occurred at 7.30pm, a time when children could easily have been playing at the youth club.
“To my mind, this serves to underline the mindlessness and recklessness of those responsible.
“We are continuing to appeal for witnesses or anyone with information to get in touch. Please call 101, quoting reference number 1330 27/10/17.”