The British comedian, star of "Get Him To The Greek" and "Forgetting Sarah Marshall," was freed on a $5,000 bond, TMZ reported.
He had surrendered to police after an arrest warrant was issued for the charge of "simple criminal damage" in the amount of $700.
Photographer Timothy Jackson said he had been out with several fellow photographers Monday night when he started taking pictures of the 36-year-old Brand with his iPhone. Brand allegedly "flipped out" and snatched Jackson's phone before throwing it at a building, breaking a window in the process, Radar Online said.
Brand has since paid for repairs to the broken window -- belonging to a law firm.
On Wednesday, Brand joked about the incident, tweeting, "Since Steve Jobs died I cannot bear to see anyone use an iPhone irreverently, what I did was a tribute to his memory."
Brand, who split from his pop singer wife Katy Perry last year, is currently filming a movie in New Orleans.
In 2010, he was arrested on suspected battery charges after he allegedly attacked a paparazzo at Los Angeles International Airport. He escaped punishment after his lawyers came to an undisclosed agreement with the Los Angeles City Attorney's Office.