Suarez remained in hospital in Germany overnight after colliding with Atletico team-mate Cristian Ansaldi during a friendly victory over Wolfsburg.
The midfielder required lengthy treatment on the pitch before being replaced by Tiago, with Atleti subsequently confirming Suarez had suffered a traumatic brain injury.
On Monday, the Liga champions were able to provide a positive update on the health of the 27-year-old.
"Mario Suarez has been discharged from hospital," read a statement on Atleti's official website.
"Doctors have determined that the midfielder is evolving favourably and that is why tomorrow [Tuesday] afternoon [he] will return to Madrid.
"The Atletico player will remain under observation and will undergo medical tests in Spain on Friday in order to assess the evolution of trauma."
