Rio Rancho police say 23-year-old Andrew Anderson died as a result of injuries suffered during a dispute.
The cause of death and the source of the dispute haven't yet been determined.
Police believe Anderson was killed in the area of the highway and wasn't killed elsewhere and dumped onto the roadway.
Rio Rancho police say suspects have been taken into custody.
The status of charges is unknown.
The discovery of Anderson's body on Highway 528 on Saturday morning had prompted an hours-long closure of a portion of the roadway.
The highway later reopened.