The wrestling legend, whose real name is Sean Waltman, was met by officers as he attempted to board the flight at LAX airport in Los Angeles.
A spokesman for Los Angeles Airport Police said the 44-year-old had been charged with possession with intent to sell after the arrest on Saturday shortly before midnight.
He said: "A subsequent investigation revealed that he had methamphetamines, marijuana and had a warrant for his arrest for a DUI (driving under the influence)."
A search of Waltman's backpack unearthed three cannabis chocolate bars, 38 methamphetamine capsules and 56 capsules of the active ingredient in cannabis, THC, according to a record of his arrest.
He was charged with possession of a controlled substance in relation to the methamphetamine, also known as crystal meth, but not the cannabis as it is not a controlled substance in the state, the spokesman added.
Officers argue he was planning on selling the drugs as he was possessing a quantity too vast to personally consume before he was due to fly back to LA on Monday.
Waltman, who earned his first pro wrestling title in 1990, was due to perform at the Extreme Measures event in Clapham, south-west London, on Sunday.
The wrestler, who has spoken about his drug abuse in the past, said after his arrest that he had experienced a "crazy weekend" which he plans to explain to fans.
He tweeted: "Still mentally strong & healthy. No relapse."
His spokesman added: "All I can comment on now is he is fine and that we refunded his deposit to the UK promoter for the show he missed."
Waltman was bailed for 35,000 US dollars (£27,000) and is due to appear in court in Los Angeles on May 25.