Juan Manuel Alvarez was arrested in Oaxaca on Easter Sunday.
Officials say he is part of an international money laundering network with connections to Mexico, Colombia, Panama and the U.S.
WATCH: Mexican officials release videos of 'El Chapo' prison booking
El Chapo himself was arrested in January after months on the run following his most recent prison escape in 2015.
The drug lord escaped twice from maximum security prisons in Mexico, including his most recent escape in July 2015.
He is currently wanted in seven U.S. states. Mexican officials say they have already began working to extradite Guzman to the U.S.
How Guzman escaped a Mexican prison