The Marketing Executive, from South London, should have arrived back at her home in Brixton around 50 minutes later, after walking through Clapham Common.
On Wednesday, the force said he had been initially arrested on suspicion of kidnap, and later murder.
Ephgrave, the assistant commissioner, told reporters on Wednesday the officer was arrested in Kent, as was a woman.
The Metropolitan Police said a member of its force had been arrested at an address in Kent in connection with the investigation.
Sniffer dogs were also used to search the nearby Oaklands Estate and gardens in surrounding streets, while other officers were lifting covers and searching drains along the A205.
Police say that they are keeping Ms Everard'sfamily updated about the situation, while the UK's Directorate of Professional Standards has been notified of the officer's arrest.
Officers continue to ask people who live in the Clapham Junction area, or who were there from 9.30pm on Wednesday 3 March, to check any CCTV or dashcams they may have and to come forward with any information.
Detective Chief Inspector Katherine Goodwin said: "I would like to stress that there is no information at this stage to suggest anything untoward may have happened to Sarah". The man and the woman are taken into custody.
"This is a significant development in our inquiry", she said.
Police have been searching the area where Sarah was last seen on a private doorbell camera
On Wednesday, police searches were being carried out in two locations in Kent - land near Ashford and at a property in Deal. The previous day, officers were examining a small park close to where Everard's mobile phone signal was last registered.
Ephgrave thanked those who had come forward, and he renewed his call for more information, saying anything the police could learn was important.
Footage from a doorbell camera shows Ms Everard walking along the A205 Poynders Road at about 9.30pm.
Mr Khan added: "It is now in the public domain that a serving Met Police officer has been arrested".
A frantic search was launched, and investigating officers earlier this week cordoned off a block of flats in Poynders Road, where Ms Everard was last seen.
Sarah left her friend's home in Clapham at 9pm on 3 March and was due to walk home, across Clapham Common, on her own.
Over 120 calls have so far been received from members of the public; information from which is now being assessed by officers as part of their extensive enquiries.
Ms Everard was last seen wearing a green rain jacket, navy blue pants with a white diamond pattern, and turquoise and orange trainers.
Anyone who has seen Sarah or who has information that may assist the investigation should call the Incident Room on 0208 785 8244.
The company is showing signs of making a comeback, as competitors are forced to merge and consolidate in order to survive. The industry can be broken down further between mobile gambling and desktop gambling (which includes laptops and PCs).
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