The Wolf Creek star is alleged to have assaulted an 18 year old woman at ahouse in Randwick, Sydney in September 1976.
Mr Jarrett was 24 at the time of the alleged incident.
The woman made a report to officers at the Eastern Beaches Police Area Command in December 2017 and a formal investigation began.
On Saturday, NSW Police released a statement saying a 66-year-old man had on Friday been issued with a notice to attend court.
The now 68 year old has told a reported the allegation was "ridiculous and untrue," according to 9News.
"It's fine, because I'm innocent," he said.
"Because I'm a good man."
Jarratt's lawyer, Chris Murphy, told AAP his client's innocence will be easy to prove.
"I could ... win this case by lunchtime and he could get back to his life," Mr Murphy said.
"I have got documents I can put on the table that show it didn't happen."
Jarratt is expected to appear before Waverley Local Court on Wednesday October 10.