A man hunt was launched by police after James Stewart, 24, disappeared during a home visit in Glasgow from HMP Castle Huntly, near Dundee.
He was reported missing to police at 2:35pm on Friday and was believed to have connections in the Glasgow area.
Officers believed Stewart did not present a threat to members of the public.
Police confirmed Stewart had been found late on Saturday evening following search efforts.
A statement from Tayside Police Division confirmed that Stewart had been found.
In a statement, it said: "Police Scotland can confirm that convicted prisoner, James Stewart, 24 years, reported missing on Friday 1st October, from HMP Castle Huntly, has been traced."
The 15th-century Castle Huntly is Scotland’s only open prison.
Most inmates are low-risk, serving short sentences of up to two years, although some are long-sentence prisoners nearing the end of their term.