Musharraf, 69, along with his delegation of around 150 people including his party supporters and journalists landed at Jinnah International airport in Karachi by a chartered Emirates flight from Dubai.
Talking to reporters within the aircraft that flew him from Dubai to Karachi, a smiling Musharraf said: "It is (a) very emotional (moment). I'm going back after four years."
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Geo News reported that the military authorities had through the defence ministry sent a letter to the interior ministry to provide security for the former president.
The defence ministry had said that given the existing circumstances in the country it was imperative for the interior ministry to provide top security to the former President, the channel reported.
His planned press conference at the airport was cancelled and would be held later in the week in Islamabad.
Security and party officials confirmed that the former President had after consultations with his All Pakistan Muslim League executive members inside the terminal building decided to hold a press conference in Punjab on Wednesday.
"Security officials advised Musharraf after his arrival that he should not hold any press conference neither try to address a rally as they wanted to take him from the airport to his destination as soon and as discreetly as possible due to high security risks," one of the party members said.
He is expected to stay in Karachi for two days before going to Islamabad where he ruled the country as chief executive and then President from 1999 to 2008.
Security at the airport was tight in the wake a threat to
Musharraf's life from Pakistani Taliban.
Hundreds of Police and paramilitary rangers were present inside and outside the airport to provide security cover for the former President.
Sniffer dogs and scanners being used to check all incoming and outgoing vehicles and people coming to the airport.
Erlier, in a message posted on Twitter shortly before he boarded a flight from Dubai, Musharraf wrote: "I will arrive in Karachi today, March 24th, at 1pm & address a public rally at the airport at 5 pm in the evening."
He also tweeted a photo of him leaving his Dubai home. He later tweeted another photo of himself "settled in my seat on the plane to begin my journey home".
"I am feeling nostalgic....I miss Pak...I love Pak...What people want, that will happen."
Hours before his return, authorities in Karachi cancelled permission for a meeting that was to be addressed by Musharraf at a ground near the mausoleum of Mohammad Ali Jinnah, the founder of Pakistan.
Sindh police spokesman SSP Imran Shaukat said the no-objection certificate for the public meeting to be addressed by Musharraf had been withdrawn due to "serious security threats" to the former President.
The police had officially informed Musharraf's party, the All Pakistan Muslim League, about the decision, Shaukat said.
"The APML has agreed to cancel the public meeting," he said.
The banned Tehrik-e-Taliban Pakistan said it had formed a squad of suicide bombers to target Musharraf on his return.
In another message posted on Twitter, Musharraf said Pakistan "must crush terrorism and extremism".
Musharraf had left Pakistan on April 19, 2009, saying he was going abroad for a series of lectures.
He did not return from that trip and several courts issued arrest warrants for the former President in connection with the killings of former premier Benazir Bhutto and Baloch nationalist leader Akbar Bugti.
Musharraf obtained pre-arrest bail from the Sindh High Court ahead of his return.
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