Substitute Camavinga picked up two yellow cards in quick succession to be dismissed with four minutes remaining of the quarter-final second leg.
The tie was level when Camavinga was shown red but Bayern scored twice late to win 4-3 on the night, 6-4 on aggregate, and book a clash with holders Paris Saint-Germain in the semi-finals.
AFRICA PICKS: Football tips and predictions
The Frenchman’s second yellow appeared to be shown for delaying the restart after he had fouled Harry Kane.
“It’s unbelievable that you can send off a player for this action in a match like this,” Arbeloa told TNT Sports.
“We feel really upset, really angry, really disappointing. This felt like a defining game in our season.”
Walking past reporters after the match, Real midfielder Jude Bellingham said the decision was “a joke”.
The defeat leaves Real Madrid set to finish a second straight season without a major trophy, with Arbeloa’s side nine points behind leaders Barcelona with nine games to play in La Liga.
–AFP
Photo: REUTERS/Michaela Stache