Police Scotland said the 63-year-old from the west of Scotland had been charged in connection with reports of "historic physical and sexual abuse" at Fort Augustus Abbey.
"A report detailing the circumstances has been submitted to the Crown Office and Procurator Fiscal Service," said a spokesman.
An 80-year-old man from the Highlands was arrested and charged in September. He was one of three men reported to prosecutors in December. The others have not been charged but remain under investigations.
The investigation into reports of historic physical and sexual abuse at Fort Augustus Abbey school near Loch Ness began last March.
The school was run by Benedictine monks but closed down in the 1990s.
Police Scotland have appealed for any victims to come forward and has said it recognised that "it is very difficult" for those who may have been abused to speak about their experiences.
Fort Augustus is one of two Catholic boarding schools in Scotland being investigated over allegations of historic sexual abuse.