The 40-year-old will however be placed under house arrest at the Hotel Palma Roga in Asuncion until investigation into the case is concluded.
Ronaldinho was released after his lawyers posted a $1.6m bond in his name.
Ronaldinho was arrested in Paraguay on March 6 with his brother Roberto Assis for entering the South American country with a fake passport.
The pair were in the country to partake in a number of promotional events.
The former Barcelona forward has always maintained his innocence since his arrest, insisting the passport was given to him as a gift by a local sponsor.
When issuing the ruling, Judge Gustavo Amarilla said: "I decided to put them in house arrest because the investigation is now well advanced, differently from the situation one month ago."
Ronaldinho celebrated his 40th birthday with fellow inmates at the Agrupacion Especializada prison on March 21.
He has also been passing the time in jail engaging in a number of football matches with inmates, with videos of the games going viral online.
Ronaldinho is widely considered as one of the greatest footballers of all-time, having won the FIFA World Cup with Brazil in 2002.
He won two La Liga titles and the UEFA Champions League during his time with Barcelona and also turned out for the likes of AC Milan and Paris Saint Germain in an illustrious career before retiring in 2015.
