Arcangelo Fiorello was arrested in the village of Francica, Calabria, Gazzetta del Sud reported on Tuesday.
The 65-year-old is accused of driving his car into the group of children, injuring a 12-year-old boy, before speeding off.
A passerby called the police who were able to trace Fiorello to his home where he was found in a state of anxiety. He likely ran down the group for their raucous behaviour, the newspaper said.
The injured boy was taken to hospital and treated for concussion and a fractured arm, before being discharged, Gazzetta del Sud reported.