Police were called to the couple's home in Charlotte just before midnight Sunday night.
Officers say no weapons were used in the attack.
Flair suffered minor injuries, but refused treatment.
"Ric and his wife had an unfortunate disagreement late last night, which led to his wife being arrested and charged with assault," Flair's agent Melinda Morris Zanoni said in a statement. "Ric has done nothing wrong. The important thing to remember here is that we have some very exciting professional announcements in the near future. Ric finds this incident unsettling and is committed to correcting any issues in his personal life".
Flair and his wife, Jacqueline Beems, were married three months ago.
Meanwhile, this is not the first time Flair has found himself in a physical family spat.
In September 2008 according to Chapel Hill Police, neighbors called for help when they heard a commotion in the parking lot of their apartment complex.
Officers found Flair, his daughter Ashley Fliehr and an unidentified 22-year-old man at the scene. Sources told Eyewitness News the three were involved in a fight that left the former pro-wrestler bloodied and bruised.
Flair declined to file charges in the case. But, his daughter is accused of kicking an officer. Chapel Hill Police say a taser gun was used on Ashley Fliehr.
She was charged with assault on a law enforcement officer and resisting arrest. When Eyewitness News tried to contact Ashley Fliehr, her boyfriend said the incident was a family matter that is now resolved.
Ric Flair, whose real name is Richard Morgan Fliehr, is best known by his ring names, Ric Flair and the Nature Boy.
Flair is among the most well known wrestlers in the world and has been one of wrestling's biggest stars since the late 1970s. Many consider him the greatest wrestler of the modern era of professional wrestling.
He retired as a wrestler in March 2008.