The son of former heavyweight boxing champ Evander Holyfield was arrested by campus police and charged with possession of less than 1 ounce of marijuana and possession and use of drug-related objects. He posted $4,050 bail and was released.
Holyfield, 20, played in five games as a true freshman last season, rushing for 29 yards on six carries.
During Georgia's spring game earlier this month, the 5-foot-10, 200-pound former four-star prospect had 41 yards and a touchdown.
The news of Holyfield's arrest comes on the heels of Georgia releasing incoming freshman offensive lineman D'Antne Demery from his letter of intent after domestic violence charges.
According to Georgia's student-athlete policy, players are to be suspended one game for a marijuana arrest. Holyfield is the second Bulldogs player to be arrested for marijuana possession; wide receiver Riley Ridley was arrested on a marijuana charge in March.
A team spokesman said coach Kirby Smart is aware of Holyfield's arrest.
The Associated Press contributed to this report.