Sharma was released from the prison at around 4.30 pm, jail superintendent Akhilesh Tomar told PTI.
He first visited a Hanuman temple near the prison where his supporters, who had come in 50-odd vehicles, mostly SUVs, burst fire crackers, distributed sweets, and garlanded him.
"I am innocent. I have full faith in judiciary. I will get justice," Sharma told reporters after his release from the prison after nearly two years.
During his 692-day in jail, he wrote a Hindi book titled 'Aisi hoti Jail', he said, adding he plans to help NGOs that work for jail inmates.
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The High Court had on June 22 granted him bail in three cases related to the Vyapam (MP Professional Exam Board) scam as other accused in these cases were already out on bail.
He had got bail in another Vyapam-related case earlier.
The Special Task Force (STF) of MP police - which was probing the massive racket where recruitment examinations for various government posts and educational courses were allegedly rigged - had arrested Sharma in four cases in July 2014.