The Evening Shade actor, 74, is now home, with 24-hour nursing care.
In a statement Wednesday, Reynolds's rep Erik Kritzer said: "Mr. Reynolds has been released from a hospital in Florida in which he had a planned bypass operation. He wants to thank everyone for their good wishes and states that he has a great motor with brand new pipes and he is feeling great. Doctors plan on a speedy recovery. "
Kritzer added, "All reports that are implying he was rushed to a hospital are completely untrue, as he has had this operation scheduled for over a month."
Reynolds also recently sought treatment for a prescription drug addiction and completed a month-long stint at the Hanley Center in West Palm Beach, Fla. He told PEOPLE afterwards, "This has been a challenging time for me personally, and I really appreciate the outpouring of love and support from my fans, friends and family."
With reporting by OLIVER JONES