The move comes after a US envoy urged the quasi-civilian government last week to free all remaining political prisoners before the new parliament convenes next month.
"Altogether 102 prisoners including a foreign prisoner, a New Zealand national who was serving his sentence, were released," presidential spokesperson Zaw Htay wrote on his official Facebook account.
Outgoing President Thein Sein, a former general, has overseen Myanmar's transition from the nearly five decades of junta rule that ended in 2011, releasing political prisoners at key moments in the reform process.
Today's pardon included at least 34 prisoners of conscience, said Ye Aung, a representative of the Former Political Prisoners Support Group.
Though many of Myanmar's hundreds of political dissidents were jailed during repressive junta rule, scores of activists have also been thrown behind bars under Thein Sein's watch.