He faces felony possession of stolen weapons charges.
Knight was involved in a standoff with Harnett County deputies on the north side of the Campbell University campus in Buies Creek for about four hours Wednesday.
The standoff began when deputies served a warrant on Knight in his rented home and he managed to slip out of handcuffs and lock himself in his room.
Harnett County Sheriff Larry Rollins said deputies went to the house looking for weapons allegedly taken from a gun store in Fuquay-Varina where Knight was an employee.
Knight's former employer told ABC11 the Iraq War veteran was arrested Sunday night for allegedly stealing an AR-15 rifle from Sovereign Guns. Owner Kiran Frampton said Knight was seen putting the weapon into his bag on a surveillance camera. Frampton said Fuquay-Varina police called Knight Sunday and got him to come to the store where he was arrested on a larceny charge. He allegedly returned the gun and was released from the Wake County jail on a $3,000 bond.
Frampton said a subsequent check of the store's books revealed two rifles and four handguns were also missing. He contacted authorities a second time.
Campbell, a liberal arts university that has its main campus in Buies Creek - east of Lillington - also has a separate law school located in Raleigh. School officials locked down the campus during the standoff and also cancelled evening classes.