“He was arrested calmly in his home outside Karlstad,” said Värmland police spokesman Thore Persson.
The dead men, who were aged 31 and 32, were cycling when they were hit by the private car at around 10pm on Monday. Both died at the scene.
The car was later found not far from where the accident took place. It had been reported stolen shortly after the accident. Police believe that someone picked up the driver in another car.