According to Hollywood Reporter, authorities believe the alleged separate incidents occurred between 2001 and 2003.
Masterson, who played Steven Hyde on the popular sitcom, has been accused of raping a 23-year-old woman between January and December 2001, a 28-year-old woman in April 2003 and another 23-year-old woman between October and December of 2003.
Los Angeles police began investigating Masterson over sexual-assault claims in 2017 and he was arrested yesterday at 11:30am, according to Hollywood Reporter.
His bond was set at $3.3 million and he was let out on bail just three hours after he was arrested.
The actor played Steven Hyde on That '70s Show, which ran from 1998 to 2006. He also starred alongside his '70s Show castmate Ashton Kutcher in the Netflix series The Ranch.
At the time the LAPD investigations were reported, Masterson's rep denied any wrongdoing.
If convicted as charged, he faces a possible maximum sentence of 45 years to life in US state prison.
Sexual harm - Do you need help?
If it's an emergency and you feel that you or someone else is at risk, call 111.
If you've ever experienced sexual assault or abuse and need to talk to someone contact the Safe to Talk confidential crisis helpline:
• Text 4334 and they will respond.
• Email support@safetotalk.nz
• Visit https://safetotalk.nz/contact-us/ for an online chat
Alternatively contact your local police station.
If you have been abused, remember it's not your fault.
