The man, who holds both Colombian and Swedish citizenship, is believed to have killed his friend by stabbing him five times, the Aftonbladet newspaper reports.
The 23-year-old was arrested in his Stockholm-area home last Thursday after Colombian authorities requested assistance with the case from their Swedish counterparts.
The man has since been remanded in custody on suspicion of murder.
The alleged murder took place in the city of Giordota, north of Medellin, in April 2007 after the Swede began behaving inappropriately in front of two women.
When a friend asked the him to stop, the 23-year-old is said to have stabbed the friend to death.
The prosecutor in the case, Aino Alhem, refused to divulge what evidence he had tying the man to the crime, adding that he is still looking into holding another remand hearing for the 23-year-old in order to strengthen the suspicions against him.
Alhem also remained silent as to whether the victim in the case was also a Swedish citizen.
“I won’t comment on that now,” he told Aftonbladet.