Lahore police chief Malik Ahmed Raza said authorities found the 70-year-old during an early morning operation Thursday in Khushab city.
Mr Raza said authorities tracked Weinstein after obtaining leads from three arrested suspects and also by tracking mobile phone calls.
Mr Weinstein is the country director in Pakistan for J.E. Austin Associates, a US-based firm that advises a range of Pakistani business and government sectors.
Khushab is also located in Punjab province, of which Lahore is the capital.