The fishermen were handed over to Indian authorities on the international waters north of Kankesanturai in the northern Jaffna peninsula, Sri Lankan coast guards said.
Their release came after Sri Lankan President Maithripala Sirisena met a delegation of five fishermen association leaders, including fishermen's association president N Devadoss, and assured to take steps for their release.
Noting that the issue of fishermen needed to be resolved through talks, Sirisena said he would ensure that centuries old Sri Lanka-India friendship would not be affected by the dispute.
The fishermen, arrested with five boats off the island's northern coast in Point Pedro, were produced before the court and ordered to be released.