Owen Brannigan, 45, died after being stabbed at a house in Coatbridge in November 1999.
James McGowan, 57, was arrested by police in Australia last year and has now been extradited to face charges over Mr Brannigan's death.
He is due to appear from custody at Airdrie Sheriff Court later.
A police spokeswoman said: "A 57-year-old man has been arrested and is presently detained in police custody in connection with the death of Owen Brannigan in November 1999 in Coatbridge."
A man has been extradited from Australia and arrested in connection with the death of a man in North Lanarkshire more than 16 years ago.