Stories of vampires sucking people's blood have become commonplace in recent months in the country's southern provinces.
President Bakili Muluzi has called for anyone spreading such rumours to be arrested.
The journalist, Maganizo Mazeze, will appear in court on Monday, charged with charged with broadcasting false information likely to cause public unrest.
'No basis'
On Saturday Mr Mazeze interviewed a man from the southern tea-growing district of Thyolo.
The interview was broadcast on MIJ 90.3 FM in Blantyre, the country's commercial capital.
"It was a story that deserved airing because it was traceable to real human beings," said James Ng'ombe, executive director of the Malawi Institute of Journalism, which runs that station.
But the police said that there was no basis in fact for the vampiric claims sweeping the country.
"No one has come forward with evidence, be it medical, physical or otherwise," said police spokesman George Chikowi.
Attacks
There have been a number of attacks connected with the vampire rumours in recent weeks.
Strangers are becoming victims of vigilantes as villagers are wary of anyone who is not known in their area.
One man was stoned to death after being suspected of working with the vampires.
In Thyolo, villagers attacked three Roman Catholic priests who were strangers to the area.
Ten days ago, the governor of Blantyre Eric Chiwaya was stoned by a crowd which accused him of colluding with vampires to collect human blood in return for international food aid.
The government says the opposition are using the rumours to try and discredit the ruling United Democratic Front.