According to officials with the American Center for Law and Justice, who have defended her, "Chief Justice Mian Saqib Nisar read the verdict, stating that the judgment of the High Court is reversed and Asia Bibi should be set free if she is not wanted in any other case".
"....this appeal is allowed".
She has been offered asylum by several countries and was expected to leave the country if acquitted.
In October 2014, the Lahore High Court upheld Aasia's death sentence.
Bibi's lawyer on Wednesday called the court ruling "great news" for Pakistan.
Here is the full text of the 56-page long verdict given by the bench in the blasphemy case.
The mere rumor of blasphemy can ignite mob violence and lynchings in Pakistan, and combatting alleged blasphemy has become a central rallying cry for hard-line Islamists.
Party spokesman Ejaz Ashrafi said: "The patron in chief of TLP, Muhammad Afzal Qadri, has issued the edict that says the chief justice and all those who ordered the release of Asia deserve death". Soon after, protests erupted across multiple cities on the call of Tehreek-i-Labbaik Pakistan, a religio-political party headed by Khadim Hussain Rizvi. She was subsequently accused of passing derogatory remarks about Prophet Muhammad (PBUH).
IBM buys software firm in a record $34bn deal
It also acquired Cognos in 2008 for $5bn and the Weather Channel's data assets for $2bn in 2015. IBM intends to maintain Red Hat's headquarters, facilities, brands and practices.
Rights groups say the blasphemy law has been used to settle scores and to persecute religious minorities, and have pressed for stricter punishments for false accusations.
Given the probing questions from the Justices during arguments on appeal and Pakistan's history of never executing a death sentence in a blasphemy case, the only reason for the Supreme Court to uphold Asia's conviction would be the extreme pressure from Islamic groups that has now engulfed the country, including threats against the Justices. "We knew that she is innocent", he said.
Taseer later gunned down in broad daylight in Islamabad in 2011 by one of his own bodyguards who cited the governor's position on reforming the country's blasphemy laws as the motive.
Supporters of a Pakistani religious group chant slogans while blocking the main road at a protest after a court decision, in Karachi, Pakistan.
'We are grateful to the judges for giving us justice.
Street protests and blockades of major roads were spreading by mid-afternoon, paralysing parts of Islamabad, Lahore and other cities.
Mumtaz Qadri was hanged for the killing but has been hailed a martyr by hardliners. The two Muslim women who pressed charges against Bibi denied they quarrelled with her, saying her outbursts against Islam were unprovoked. Federal minister for minorities Shahbaz Bhatti was also killed after calling for her release.
Taseer had also called for Asia Bibi's release.