In this paper, we provide a certain direct-sum decomposition of reflexive modules over (one-dimensional) Arf local rings. We also see the equivalence of three notions, say, integrally closed ideals, trace ideals, and reflexive modules of rank one (i.e., divisorial ideals) up to isomorphisms in Arf rings. As an application, we obtain the finiteness of indecomposable first syzygies of MCM R-modules over Arf local rings.