12.31pm: Archbishop Desmond Tutu said the pro-democracy leader's release offered hope to the people of Burma and lauded her as "a global symbol of moral courage".
French President Nicolas Sarkozy warned the military junta against "any restrictions on the freedom of movement and expression" of the Nobel laureatte. Any new restrictions on her would "constitute a new unacceptable denial of her rights", he said.
1.08pm: Fellow Nobel laureates, gathered in Hiroshima, Japan, for a three-day meeting to campaign against nuclear weapons, have welcomed Aung San Suu Kyi's release.
Former South African President Frederik Willem de Klerk and Hiroshima Mayor Tadatoshi Akiba gave a joint toast in her honor.
"I sincerely hope next year when we have the conference she will attend," said de Klerk, who won the Nobel Peace Prize with Nelson Mandela in 1993 for his efforts to end apartheid.
"For years we have been asking at the laureate conference for her release," he said. "We welcome it, and we hope it will last, and there won't be a regression of any nature."
Shirin Ebadi, one of Iran's first female judges and the 2003 Peace Prize winner, reacted with a simple "Bravo."
"It's a victory over wrong," she said. "Like the past, I hope she can act for democracy."
1.12pm: The Guardian's Jack Davies, who is in Rangoon, has sent through his account of the scenes outside Aung San Suu Kyi's house.
"University Avenue, the street on which Aung San Suu Kyi lives, and which has been blocked off for seven years, has been transformed into part-party part-vigil as thousands have flocked to the democracy icon's gate.
"People are openly weeping at the news she has been released, cars are beeping horns, and people are dancing, while others are sitting at her bamboo fence, singing and chanting Good health Aung San Suu Kyi.
"Thousands of people have appeared, just today, in t-shirts bearing 'The Lady's' likeness, and the words, 'We stand with Aung San Suu Kyi'. It's a t-shirt that would have landed people in jail a few weeks ago.
"The police, usually feared as the frontline of Burma's brutal security apparatus, have come in for huge amounts of ridicule and ironic cheers, two armed platoons, dressed in riot gear and carrying shotguns, stood at attention across the road most of the afternoon. When they were finally given the order to leave, they were jeered all the way down the street."
You can watch a BBC video of the moments after her release here .
2.33pm: Jack Davies has just sent through an update from Rangoon:
"Rangoon is a city of palpable excitement tonight, across the city people are out, sitting in the tea-shops which are the social hub of Burmese life, discussing Aung San Suu Kyi's release. This was a day of enormous anticipation, which, threatened to fall in to huge disappointment when, by late afternoon, her release had still not materialised. People are overjoyed at the release of their democracy icon.
"Usually, politics is the last topic of conversation Burmese people will enter into. Government spies are everywhere, and it is simply not safe. But tonight, everybody in Rangoon is talking about Aung San Suu Kyi, her release, and what it means for their country. This has excited the Burmese people in a way the recent general election did not.
"Police remain on standby throughout the city, but there is no mood for protest, just of excitement.
"There are no details known yet on what, if any, conditions have been imposed on her, but it is expected the government will attempt to impose some. During her previous brief spells at liberty, the military restricted where she could go (including confining her to Rangoon) and with whom she could meet. Every time, she has railed against and defied the government's restrictions, and there is every reason to believe she will do the same again this time."
3.59pm: In a rare mention of the opposition leader, Burma state television tonight reported that national police chief Major General Khin Yee visited Aung San Suu Kyi at 5pm (local time) to read the official release order.
Khin Yee said he was happy to see her in good health, and that the authorities were ready to provide any assistance she needs, the report said.
The police chief told her that the authorities wanted to maintain the rule of law, peace, stability and tranquility, and the pro-democracy leader replied "she feels the same way, too," it added.
4.21pm: We're closing the liveblog now but there will be more coverage in tomorrow's Observer and on the website.
Here's a recap of today's events:
• Aung San Suu Kyi, Burma's pro-democracy leader, has been released from her latest period of house arrest after seven years.
• She told thousands of jubilant supporters gathered outside the compound where she has been confined that "if we work in unity, we will achieve our goal".
• She is due to speak at greater length tomorrow at the headquarters of her party, the National League for Democracy.
• It is not yet known whether the military junta has imposed any conditions on her release.
• World leaders, including US President Barack Obama and British prime minister David Cameron, have welcomed her release and urged the regime not to impose any further restrictions on her.
• This article was amended on 16 November 2010. The original said: "David Cameron has said the pro-democracy leader's release was 'a travesty' and long overdue." This has been corrected.