Norman Moffatt, 73, was stabbed as he walked home after buying his morning newspaper in Coleraine, Co Londonderry, in January 2001.
Last year police made a fresh appeal for information about the murder and said the elderly man may have been the victim of a random attack.
Now detectives from the Police Service of Northern Ireland, working with officers from Greater Manchester Police, have arrested a 41-year-old man on suspicion of murder.
The man was detained in the Stockport area and will be taken back to Antrim for questioning.
Police investigating the crime at the time of the attack said Mr Moffatt was stabbed by a man at about 7am. The incident was captured on CCTV.
Mr Moffatt managed to make it home to his wife and children. He was taken to hospital and died almost two months later.