A judge in Rio de Janiero has recommended that Pat Hickey be freed from prison and placed under house arrest.
Mr Hickey is currently being held by Brazilian police in relation to alleged mis-selling of tickets for the Olympic Games.
Judge Fernando Antonio de Almeida cited Mr Hickey's "critical health" before recommending that his imprisonment be converted into "domicile imprisonment".
The judge said Mr Hickey's imprisonment to date was based on "generic presumptions" and that his potential liberation from jail would not "put at risk the public order, or the application of penal law".
He also said precautionary imprisonment can only be used when the maximum time servable for an offence exceeds four years, which is not the case here.
Mr Hickey has temporarily stood aside as president of the Olympic Council of Ireland during the investigation and is currently being held in a maximum security prison following his arrest on 18 August in Rio.
The decision follows the release of Irishman Kevin Mallon at the weekend.
Mr Mallon, the Dublin-based director of THG Sports, was in possession of hundreds of tickets earmarked for the Olympic Council of Ireland, when he was arrested on 5 August.
THG does not have the licence to sell Ireland's Olympic tickets.
Mr Mallon had been held alongside Mr Hickey in the Bangu maximum security prison.
