Aidan Pilkington was killed after being hit by a car on Crow Road, Glasgow, at 12:20am on Saturday morning.
The 18-year-old, who graduated from Hyndland Secondary School in June, was set to begin studying at Dundee University next week.
Police Scotland later confirmed that a 19-year-old had been arrested in connection with Aidan’s death – before being released pending further inquiries.
The unnamed suspect plays professional football for Celtic FC’s B team.
It is understood the teen played in the squad’s 2-0 victory over Gala Fairydean Rovers last Wednesday.
The news comes after Aidan Pilkington’s family revealed their heartbreak at his death.
In a statement, the family said “treasured” Aidan was “well loved and respected by his friends and community”.
"It is very cruel that he has been robbed of his life in this way,” a statement said.
"The family would like to thank friends, in particular Aidan’s friends, and the wider community, for their love, support, and kindness."
Sergeant Scott Sutherland from Road Policing said: “The car involved has now been traced and a 19-year-old man has been arrested in connection with this incident.
“He’s been released pending further investigation.
“We would like to thank everyone who has got in touch with us so far regarding the appeal, and urge anyone who has information, but has yet to contact us, to call 101 quoting incident reference number 0120 of September 11, 21."
Celtic FC has been approached for comment.