Pat Hickey has been given the go-ahead by a judge in Rio to leave Brazil.
Mr Hickey, who has temporarily stepped aside as president of the OCI during an investigation into alleged ticket touting at Rio 2016, has denied all allegations made against him.
In a judicial decision published this morning in Rio de Janeiro, Justice Marcello Rubioli ordered that Mr Hickey's passport be returned to him, more than four months after he arrived in Brazil for the Olympic Games.
On 8 December it was confirmed that 1.5m Brazilian real (approximately €410,000) was lodged with the court.
The Association of National Olympic Committees has loaned the money to Mr Hickey in order to allow him to return to Ireland for medical treatment.
The order, published this morning, states that Mr Hickey agrees to attend all aspects of the ongoing legal process, as requested, and in his absence that he maintain legal representation to receive court notices or summonses.
The judge also ordered that Dublin man Kevin Mallon, who is also facing charges related to the alleged mis-selling of tickets for the Games, may have his passport returned upon payment of a bond of 750,000 Brazilian reals (approximately €205,000) half the amount originally required.
Mr Hickey's lawyer Allan Caetano Ramos was at the Special Court for Supporters and Large Events this morning to organise a document that must be signed by Mr Hickey, detailing his commitment to attend to the ongoing legal process, and return to Brazil as required.
Once this is signed, Mr Hickey's passport should be returned later today.