Before his release, Roush Fenway tweeted a photo of Newman and his two girls smiling at Halifax Medical Center where he was being treated.
"Ryan Newman continues to show great improvement after Monday night's last-lap accident at Daytona International Speedway," the team wrote.
"True to his jovial nature, he has also been joking around with staff, friends. and family while spending time playing with his two daughters."
Fans of Newman were delighted to hear the news.
"So happy to hear the update and see a picture of him and his big smile!! Hope you feel better soon Ryan!" wrote Janice Gallant on Facebook.
Amanda Lee-Minger commented, "A true miracle! The Lord has His hands on Ryan. So happy to see him up and smiling."
Just hours later, his team tweeted another photo: this time of him and his girls walking out of the hospital -- just 2 days after surviving a fiery crash at the Daytona 500.
During Monday's postponed Daytona 500 race, Newman was leading in the final lap when he was caught in the back by another racer's bumper, sending him right into a wall. His car flipped, rolled, and was hit on the driver's side by another car before finally skidding across the finish line with his roof engulfed in flames.
Newman was reportedly extracted from his car and taken directly to a local hospital by ambulance to Halifax Health Medical Center, a Level II Trauma Center which serves Volusia County. He was listed in serious condition.