ISIS claimed responsibility for Friday's explosion on a District Line train at Parsons Green station in London.
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"We have made a significant arrest in our investigation this morning", Deputy Assistant Commissioner Neil Basu said. He said the investigation is ongoing and the terror threat level remains at "critical".
Counter-terror police are being assisted by MI5 and are scouring CCTV in their hunt for the bomber.
"This arrest will lead to more activity from our officers", he continued.
British police say armed officers are also searching a home in a London suburb and evacuating neighbors as precaution.
Extra police and soldiers will be posted around major landmarks and sporting events in London this weekend.
A U.S. law enforcement source told CBS News senior investigative producer Pat Milton the device used in the attack was a white plastic bucket with a black cloth on top, with wires believed to be Christmas lights coming out of the bucket.
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In the wake of the terror attack, the threat level was raised from 'severe' to 'critical'.
According to the Department of Foreign Affairs, about 182,700 Filipinos live in the United Kingdom, a majority or 70% in the Greater London area.
"I walked into the station there was blood on the floor and people screaming 'get out'".
The bomb that was detonated on the London Underground train near Parsons Green left passengers with burns and caused a stampede.
"The public should remain vigilant as our staff, officers and partners continue to work through this complex investigation", Basu said.
Trump tweeted Friday: "Another attack in London by a loser terrorist".