Mr Figueredo, 83, was one of seven officials arrested in Switzerland in May at the request of US prosecutors.
But while he has been fighting extradition to the US he agreed to face charges in Uruguay.
The former footballer was also once a vice-president of the South American Football Confederation (Conmebol).
Mr Figueredo was among 14 Fifa executives and associates accused of corruption by the US earlier this year.
He is accused of receiving bribes worth millions of dollars connected to Copa America tournaments.
A local prosecutor, Juan Gomez, has told AFP agency he will face charges of racketeering and money laundering when he makes an initial court appearance.
The Swiss authorities approved requests from both the US and Uruguay for his extradition.
This week saw Fifa president Sepp Blatter and the man once tipped to succeed him, Uefa boss Michel Platini, both banned from football-related activities for eight years following an ethics investigation.
A former Fifa vice-president, Eugenio Figueredo, has arrived in his native Uruguay to answer charges related to a massive corruption scandal.