Prosecutors released Bassem Youssef  on a LE15,000 bail on Sunday afternoon.
Earlier on Sunday, the renowned TV satirist arrived  at Egypt's High Court in response to an arrest warrant submitted by the country's top prosecutor.
The prosecutor-general had ordered Youssef’s arrest on Saturday after a number of complaints were made against him for allegedly  insulting President Mohamed Morsi, denigrating Islam and spreading false news with the aim of disrupting public order.
Dozens of supporters of Bassem Youssef rallied outside the office of the prosecutor-general in solidarity with the one-time physician turned satirist.
Youssef hosts weekly satire show El-Bernameg (The Show) on private satellite channel CBC.
The complaints  were filed by 12 people after Youssef's 1 March episode in which he mocked the president's interview with TV anchor Amr El-Leithy in February.
In January, a number of Islamist lawyers filed a separate lawsuit against Youssef for "undermining the standing of the president" during his show but the charges were dropped before the case reached court.