Several ceremonies took place near the town of Bambari on today to mark their release.
A total of 357 children had been in the ranks of both a Christian militia and in a Muslim rebel group that had briefly ruled the country.
Mohamed Malick Fall, UNICEF's Representative, called the children's release "a real step toward peace" in Central African Republic, where thousands have been killed since sectarian fighting surged in December 2013.
UNICEF believes there are still more than 6,000 children among the fighters, including those being used as forced labor as cooks and messengers.