The 20-year-old man was detained following a dramatic two-hour operation carried out by special forces in Verviers, a city on the east of the country close to the border with Germany, it is claimed.
According to French-language station RTL, police swooped on an address in the early hours of Saturday.
The suspect may have had plans to carry out a suicide attack on fans during the Belgium versus Hungary game at the Euro 2016 tournamenton Sunday.
Belgium are due to play Hungary at Euro 2016 on Sunday
He planned to blow himself up in a fanzone where thousands are watching games on the big screens, the channel claims.
A witness said: “It looked like Baghdad here”.
The man is now being interviewed by police.
Belgian soldiers walk the streets after the dismantling of a new terrorist unit in Brussels
Last week, anti-terror police charged three people with plotting to kill football fans at a Euro 2016 fan zone.
It came after a huge operation with armed officers swooping on a number of addresses in the notorious Molenbeek district of Brussels – dubbed the jihadist capital of Europe – taking 40 people in for questioning.
Twelve were initially held overnight on suspicion of plotting a terror attack on a fan zone screening the Belgium v Republic of Ireland game on giant TVs.
But after three were charged, the other nine were released.
Belgian authorities said “immediate intervention” had been necessary.
Prime Minister Charles Michel said the nation would remain “extremely vigilant, hour by hour”. By Agencies,
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