Miliband confirmed Peter Moore of Lincoln, England, was freed Wednesday morning and is currently at the British Embassy in Baghdad awaiting a reunion with his family, the BBC reported.
Brown, an information technology consultant, was abducted in May 2007 while in Baghdad along with three bodyguards Jason Swindlehurst, Jason Creswell and Alec MacLachlan. The guards were later shot to death and their bodies were returned to the United Kingdom.
The BBC said British Prime Minister Gordon Brown applauded the release of Moore, but spoke of ongoing efforts to free other British nationals being held hostage.
"At this moment of celebration, we also remember the families of British hostages who have been killed in Iraq and elsewhere," Brown said.
"And we pledge to continue to do everything we can to bring British hostages back to their loved ones, including the remaining hostage of the group in Iraq, Alan McMenemy."