Two senior Pakistani police officials told CBS News the man, Amin al-Haq, had "no information of great value."
In London, The Daily Telegraph was the first to report the release Thursday. The newspaper report cited a Pakistani security official who said the man was "arrested mistakenly."
Pakistani intelligence sources told CBS News al-Haq was one of many bin Laden bodyguards and did not have access to important information.
The U.S. government has voiced concern recently about Pakistan's commitment to dealing with terrorist groups that operate within the country. White House Press Secretary Jay Carney said Wednesday the Taliban-linked Haqqani Network's safe havens in Pakistan and its links to the Pakistani military "are troubling."