Police said the youth - who can't be identified under the Youth Criminal Justice Act - was questioned and released, but will appear in court on July 30 to answer to charges of arson and several counts of mischief.
Investigations by the police and the Ontario Fire Marshal's office determined the fire was deliberately set.
More than 100 firefighters and 37 firefighting vehicles helped extinguish the blaze, which broke out shortly before 5 p.m. on Sunday.
Members of the yacht club say they are determined to rebuild their clubhouse.
``We're very distressed. It was a summer home for many of us,'' said Bruce Bussin, the clubhouse's commodore.
Bussin said the clubhouse is insured and will be rebuilt ``as soon as possible.''
``There's an enormous feeling of regrouping and refocusing. Our members have shown enormous spirit and commitment to restoring the facility.''
Although the main clubhouse has been destroyed, Bussin said nearby structures such as boats, docks, the swimming pool and other buildings are still intact.
