Thaksin, who was released on parole in May after serving eight months in prison, had just more than three months remaining on his one-year sentence, which was due to expire in September.
King Maha Vajiralongkorn granted pardons to selected prisoners to mark Queen Suthida's birthday on June 3, the official royal gazette said late on Tuesday.
When asked whether Thaksin was among those receiving the pardon, Justice Minister Rutthaphon Naowarat told reporters that he was, but said there were still some administrative procedures to be completed before he is formally released and allowed to remove his electronic ankle bracelet.
Thaksin's lawyer Winyat Chartmontri said he could not immediately confirm the decision.
"Based on his qualifications, he appears to meet the criteria to receive the benefit of a royal pardon and release," Winyat told Reuters on Wednesday.
The 76-year-old billionaire returned to Thailand in August 2023 after 15 years of self-imposed exile to serve an eight-year sentence for conflicts of interest and abuse of power committed while he was prime minister from 2001 to 2006.
He returned on the same day a party allied to him secured enough parliamentary support to form a government.
Within hours of arriving at prison, however, Thaksin was transferred to a hospital, citing heart and chest-related ailments.
His sentence was later reduced to one year by royal clemency, and he spent six months in hospital before being granted parole.
In 2025, the Supreme Court ordered Thaksin back to prison, ruling that his prolonged hospital stay was not fully justified and that the remainder of his sentence should be served in custody.
For two decades, Thaksin remained one of the most influential and divisive figures in Thai politics, shaping successive populist governments led by or aligned with the powerful Shinawatra family.
His legal troubles deepened after the collapse of the Pheu Thai-led government in 2025 and the rise of former ally-turned-rival Anutin Charnvirakul to the premiership.
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