Just because you said in jQuery, here's a jQuery$.each version.
arr1 = ['one','two','three'];
arr2 = [1,2,3];
arr3 = {};
$.each(arr1, function(i, value){
arr3[value] = arr2[i];
});
console.log(JSON.stringify(arr3));
output ->
{"one":1,"two":2,"three":3}
here's a working jsFiddle