Holleeder was sentenced to nine years in jail by an Amsterdam court in December 2007 for his part in blackmailing three property tycoons.
But he will not now face extra charges relating to an investigation into at least seven murders, known as the Passage case, the NRC said.
However, the public prosecution department said later on Monday no decision had yet been taken on whether or not to prosecute him and that in the meantime, Holleeder remains a suspect.
The paper says that despite an investigation going back several years, police have been unable to find enough evidence to connect Holleeder to the killings. No fingerprints have been found on guns, and telephone taps and surveillance have also failed to provide any links.
Holleeder, 53, has been in jail since January 2006. His lawyer Stijn Franken said: ‘I have always presumed he would be released this month.’
Holleeder was earlier jailed in the 1980s for kidnapping beer magnate Freddie Heineken. The equivalent of €16m was paid to free Heineken and his chauffeur Ab Doderer in 1983, much of which was found buried in woods near Zeist shortly after his release.