Two of the detectives were detained at the offices of their private detective agency in central London.
Another was arrested by detectives by appointed today.
It is understood the arrests were made as part of an investigation into allegations that detectives working in Scotland Yard's anti-corruption unit were paid thousands of pounds for information.
Yesterday, the Home Affairs Select Committee heard allegations that private investigators working for the former Nigerian state governor James Ibori, who was jailed earlier this year after pleading guilty to money laundering, had bribed police officers.
The claims centered on a firm of private investigators, RISC Management, which worked for Ibori when he was being investigated by the Met on suspicion of fraud.
A spokesman for Scotland Yard said: "The MPS is investigating an allegation that illegal payments were made to police officers for information by a private investigation agency.
"The Directorate of Professional Standards (DPS) referred the matter to the Independent Police Complaints Commission in October 2011 which agreed to supervise a DPS investigation into the allegations.
"Officers from the Directorate of Professional Standards have today executed search warrants at a business address in Conduit Street, London and arrested two men."
The 53-year-old man and 58-year-old former officers were arrested on suspicion of bribing a police officer.
They are currently in custody pending further inquiries.
The Scotland Yard spokesman added: "This was a pre-planned operation that forms part of a long and complex investigation by the Directorate of Professional Standards."
The chef executive of RISC is former Met detective, Keith Hunter, who worked at Scotland Yard until 1997 when he went into the private sector launching his own private detective agency.
According to the company's website RISC operates as an international risk management and corporate investigations company.
There was no reply at the company's headquarters in Conduit Street.