Derek Brockwell, from Glasgow, attacked two prison officers escorting him to Tallaght Hospital in Dublin from Portlaoise Prison on Tuesday.
He escaped on a motorbike driven by an accomplice.
A day later, he was arrested at a bar on Bedford Street in Belfast city centre at about 19:30 GMT. Police said a Taser was used during his arrest.
Eyewitnesses say he had been sitting outside the Bridge House pub having a drink when he was approached by several police officers.
When he got to his feet in response, they issued a warning and then used a Taser to immobilise him.
He was taken to the Royal Victoria Hospital in Belfast.
The Police Ombudsman has been informed.
Brockwell arrived in Dublin in February 2012 after absconding from a prison in Lancashire while he was on day release.
He was serving a life sentence for a series of armed robberies in London.
An Garda Síochána was liaising with the PSNI (Police Service of Northern Ireland) and British police in the search for Brockwell.
All airports and harbour authorities had been alerted.
Earlier, Irish state broadcaster RTÉ reported that the Irish Justice Minister Frances Fitzgerald has asked for a report into the circumstances surrounding his escape.
She said it was a "priority" that Brockwell be returned to prison as quickly as possible.
A prisoner who escaped from custody in the Republic of Ireland has been arrested by police in Belfast.