Hugh Doyle, who is originally from Dublin, now runs a plumbing business from his home in Enfield, north London.
The married father of two was held by police who raided 12 addresses across London and Kent on Tuesday morning.
Detectives last night charged eight men, including Mr Doyle, in connection with the multi-million pound raid.
The eight were all charged with conspiracy to burgle, were remanded in custody and are due to appear before Westminster Magistrates Court on Thursday.
A ninth man has been bailed pending further inquiries.
Mr Doyle's arrest stunned neighbours who described him as a popular, helpful and friendly man.
One elderly neighbour, who asked not to be named, said she had been shocked to hear that Mr Doyle was among those being questioned in connection with the €83m million raid on the Hatton Garden Safe Deposit Company in London.
She said: “Everyone knows him. The local pub knows him very well. He was not a bad man, he was a helpful person always willing to lend a hand.
“I am just very surprised. We are shocked that this has happened to us. He has two lovely kids and I am so sorry for his wife.”
Another neighbour, who gave her name as Theresa added: “We had him here in the house to do a plumbing job up in the loft. But it wasn't very well done. The water started coming through.
“He said somebody else would come but nobody came. That was a bit disappointing. He was friendly - over friendly, the sort of things people get away with sometimes”
She went on: “I am more shocked than anything else. He had so much work to do with his vans always coming and going.”
Mr Doyle is understood to run a heating and plumbing business, Associated Response and a high powered motorcycle, bearing the firm’s livery was parked outside the house, where police continued to carry out searches.
A Facebook page linked to the firm shows Mr Doyle in happier times piloting a variety of small aircraft and also crewing a yacht with friends.
Police have been at his £600,000 semi-detached property since officers swooped shortly after 10am on Tuesday.
Also arrested in connection with the Hatton raid were 76-year-old car dealer Brian Reader and his 50-year-old son, also Brian, who were arrested at their £850,000 detached home in Dartford, Kent.
A total of nine men are currently in custody and police have said they have recovered a “significant amount of high value items” which they have linked to the Hatton Garden raid.
The audacious robbery took place at the Hatton Garden Safe Deposit Company over the Easter weekend when a gang of thieves lowered themselves down an internal lift shaft before using an industrial diamond tipped drill to boar a hole through the reinforced concrete vault wall.
The thieves managed to open 72 of the 600 boxes in the vault getting away with millions of pounds worth of gems, jewellery and cash.
Scotland Yard said the nine men arrested remained in custody.