Thailand's Ministry of Foreign Affairs said the students -- who all hailed from the kingdom's Muslim-majority deep south -- left Lahore late last evening.
The Thai government has said the students are not linked to any insurgent groups including in Thailand's conflict-plagued south where ethnic Malay Muslims have been fighting for a level of autonomy.
"All the Thai students are in good health and good spirits as they have returned to their respective hometowns," the ministry said in a statement.
The five students were detained by Pakistani police on 8 June after a handgun and bullets were found in one of the Thais' luggage as they checked in for a flight at Allama Iqbal International Airport.
The group's release comes as a former senior Thai policeman was arrested earlier this week in Japan after he was caught carrying a loaded pistol through Narita airport.
Comronwit Toopgrajank, a former Bangkok police chief, was detained on Monday as he tried to fly back to Thailand.
Thai junta chief Prayut Chan-O-Cha has ordered officials to investigate whether Comronwit was able to take the pistol through Thai airport security before flying to Japan.
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