In December 2017, the woman reported the incident to officers from Eastern Beaches Police Area Command.
"Following inquiries, yesterday a 66-year-old man was issued a Future Court Attendance Notice for the offence of rape," NSW Police said.
Jarratt has previously denied the allegations.
He is due to appear before Waverley Local Court on Wednesday 10 October 2018.
Jarratt has spent decades in the Australian entertainment industry, working as an actor since the 1970s.
His first role was in 1975, a year before the alleged sexual assault occured.
In the 1990s, Jarratt starred in the popular lifestyle show Better Homes and Gardensbut it was his role in the 2005 horror movie Wolf Creek that the 66-year-old actor is best known for.