Bernie Ecclestone's mother-in-law was freed unharmed without any ransom being paid, Sky sources understand.
Aparecida Schunck, the 67-year-old mother of Ecclestone's wife Fabiana Flosi, was taken from her home in Interlagos, Sao Paulo, 10 days ago with her captors demanding 120 million reais (£27.8m) in ransom.
Sky Sports understands Schunck was recovered from a house in the city of Cotia, near Sao Paulo, at 6.40pm on Sunday.
Police located the house with the aid of security cameras around the city, as well mobile phone monitors.
She is understood to be in good health.
Two people were arrested, while a third is still being sought by police.