J. Alexander Kueng was released from Hennepin County Jail on Friday night after posting bail of £607,344 ($750,000).
Kueng, 26, is one of three Minneapolis police officers charged with aiding and abetting second-degree murder and aiding and abetting second-degree manslaughter in connection with Mr Floyd's death on May 25.
He was released at just before 7.30pm local time on Friday, Star Tribune reports.
The shocking death of Mr Floyd after police officer Derek Chauvin was filmed kneeling on his neck for nearly nine minutes has energised the Black Lives Matter movement across the world.
Thomas Lane, 37, another ex-officer charged over the killing, was released on bail on Wednesday.
Tou Thao, who also faces aiding and abetting charges, and Derek Chauvin remain in jail.
Chauvin has been charged with second degree murder and faces up to 40 years in prison.
The accused was sacked, along with the other three men involved in Mr Floyd's arrest, shortly after the shocking video clip emerged online.
Chauvin's bail was set at over £1m ($1.25m) last week.
According to defence lawyers, Kueng was a rookie policeman who was only on his third shift on the night of Mr Floyd's arrest.
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