TMZ reports that Masterson was taken into custody on Wednesday morning around 11:30 a.m. PT.
According to Newsweek, Masterson continues to maintain his innocence in a statement given by his attorney on Wednesday.
"Mr. Masterson is innocent, and we're confident that he will be exonerated when all the evidence finally comes to light and witnesses have the opportunity to testify," Masterson's attorney, Tom Mesereau, said, according to Newsweek.
"The people who know Mr. Masterson know his character and know the allegations to be false."
Masterson, 44, is accused of raping an unnamed 23-year-old woman between January and December of 2001, according to a complaint filed against him. In April of 2003, he allegedly assaulted and raped a 28-year-old woman and another 23-year-old woman later the same year.
The most recent victim was a woman he allegedly invited to his home in Hollywood Hills.
The actor is scheduled for arraignment on September 18 at the Foltz Criminal Justice Center, according to information released by the DA's office.
The case is being prosecuted by Deputy District Attorney Reinhold Mueller of the Sex Crimes Division. Reinhold revealed that all of the crimes Masterson is being accused of allegedly took place at the actor's home.
If he is convicted of all the charges leveled against him, Masterson faces a maximum penalty of 45 years to life in prison.
The DA's report also showed that these three cases are not the only times the actor has been accused of this type of crime.
Los Angeles District Attorney Jackie Lacey said her office has declined to file sexual assault charges against Masterson in two additional cases. One of the cases did not have sufficient evidence, and the other was outside of the statute of limitations.
Masterson previously denied allegations of assault made against him in 2017 which were being investigated by the Los Angeles Police Department, The Inquisitr reported at the time.
The LAPD released a statement regarding their investigation saying that the actor was the subject of three accusations, the details of which are consistent with the charges being brought against him.
"The Los Angeles Police Department Robbery Homicide Division, Sexual Assault Section, is conducting an investigation involving the actor Danny Masterson," LAPD's statement read. "Three women have come forward and disclosed that they were sexually assaulted by Masterson during the early 2000's."
At that time, statements were submitted to the press by both The Ranch and That '70s Show which claimed that the accusations were "false" and possibly the result of some ulterior motive on the part of the accusers.