The incident took place last night at Katupada village when Thakura Mahanta (45) kept his two wives Saraswati and Parvati alongwith the kids Jahna and Sana in a room and locked it from outside.
Then Mahanta allegedly set the house on fire killing all the four inside the room, police said.
Mahanta even did not spare his two bullocks who also met the same fate as his family members as he was very angry with his first wife on the fateful night.
Mahanta married Saraswati few years ago but as they had no issue, he again married Saraswati's younger sister Parvati who has been blessed with two girl children.
But Mahanta frequently used to quarrel with his first wife Sarswati over petty matters and about the second marriage also, police said.
The bodies were sent for postmortem and Mahanta has been arrested and forwarded to a court today, they said.