On November 9, more than 200 influential people including princes and ranking officials were summoned for questioning, and a lot of them were detained in one of the most luxurious hotels Ritz-Carlton.
Alwaleed told Reuters on Saturday that there were "no charges" against him and that he was in discussions with the government.
Earlier this week, Saudi Attorney General Saud al-Mojeb was quoted in local media as saying some 90 detainees had been released after agreeing to settlements involving cash, real estate and other assets.
Authorities said they expect to raise $100bn for the government through such settlements, a much-needed windfall for an economy squeezed by low oil prices.
Prince Alwaleed said his own case was taking longer to conclude because he was determined to clear his name completely, but he believed the case was now 95 percent complete.
Earlier, Prince Alwaleed speaking in an exclusive interview with Reuters at his suite in Riyadh's Ritz-Carlton hotel said he supports the reform process launched by Crown Prince Muhammad Bin Salman, deputy premier and minister of defense.
A senior Saudi official said Prince Alwaleed was released after a financial settlement was reached.
The anti-corruption campaign in Saudi Arabia is coming to an end after a number of those summoned by the Supreme Committee to Combat Corruption returned to their homes, including those who had been accused of corruption, witnesses and those with relevant information.
The detentions were also widely seen as an effort by Saudi Arabia's young crown prince, Mohammed bin Salman, to consolidate his power before inheriting the throne from his father, King Salman.
He has a net worth, estimated by Forbes magazine, of $17 billion, and owns shares in Citigroup, Twitter, ride-hailing firm Lyft and Time Warner. I'm so comfortable, I'm so relaxed.
The company - in which the prince has a 95 per cent stake - owns The Savoy in London, the Fairmont Plaza in NY and the George...
They had their smartphones taken away, but could communicate with family or business executives during detention from phones in their rooms.
Mr Khaled al-Tuwaijri, head of the royal court under the late King Abdullah, and Prince Turki bin Nasser - who was involved in an arms deal that led to corruption probes in Britain and the United States - were also released.