The reported pardons came a day before Egyptian President Abdel Fattah el-Sisi plans to head to New York for the 70th session of the UN General Assembly. Sisi also announced them on his Facebook page.
Fahmy, a Canadian citizen, and two other Al-Jazeera English journalists were sentenced on Saturday to three years in prison for terrorism-related crimes, a verdict that was widely denounced by human rights organizations.
Canadian PM Stephen Harper Called on to Stop Campaigning and Help Get Mohamed Fahmy Out of Egyptian Jail
The Conservatives have long been criticized for dragging their heels in the journalist's case.
Three Al Jazeera English journalists were found guilty of "aiding a terrorist organization" and sentenced to three years in prison by an Egyptian court.
According to Fahmy's Canadian lawyer, "Canada has imposed a condition that the Egyptian authorities themselves haven't imposed."
'I Want to Keep Talking About it': VICE News Interviews Peter Greste About His Time In Egyptian Jail
Al Jazeera journalist jailed for more than 400 days for reporting on Egyptian protests in 2013 says he'll continue fighting for press freedom every chance he gets.
Mohamed Fahmy and Baher Mohamed are to be released pending retrial after more than 400 days in jail. Yet thousands of Egyptians remain behind bars, thanks to a crackdown since July 2013.
His family says Canadian Prime Minister Stephen Harper "failed us miserably" as Fahmy's imprisonment in Egypt drags on.
The family of jailed Al Jazeera journalist Baher Mohamed spoke to VICE News about his condition and why he remains behind bars while his colleagues are freed.
Foreign Affairs Minister John Baird is holding a second round of meetings to try and liberate Canadian al-Jazeera journalist Mohamed Fahmy.
A Canadian journalist imprisoned in Egypt has called out the Canadian Prime Minister after a visit by Foreign Minister John Baird failed to end his more than year-long nightmare.
Though Egypt just sentenced three journalists to jail, the US is going ahead with a plan to send the country more than $500 million in aid.