Police said that a man in his mid-40s had been arrested and cautioned, but were unable to confirm that it was 47-year-old former France striker Cantona.
"Police were called to Regent's Park Road, NW1, at 12.55hrs (7.55pm Thailand time) on Wednesday, 12 March, following reports of an assault," the Metropolitan Police said in a statement sent to AFP.
"Officers from Camden borough attended and a man in his mid-40s was arrested on suspicion of common assault. He was taken into custody and subsequently cautioned for common assault.
"The victim, a man, did not require medical assistance at the scene."
The website of the Daily Telegraph reported that Cantona was involved in an incident at lunchtime on Wednesday in the upmarket north London district of Primrose Hill.
Cantona achieved nationwide fame in Britain as a charismatic but controversial striker with United, winning four Premier League titles and two FA Cups in his five years at the club.
He was convicted of assaulting a Crystal Palace fan during a game at Selhurst Park in January 1995 and sentenced to two weeks in prison, which was eventually reduced to 120 hours of community service.
The incident also earned him an eight-month suspension from the Football Association, in addition to a four-month ban imposed by United.
After retiring in 1997 he became an actor and is often seen in advertisements on British television.