The decision, announced by the court on Tuesday, was taken in response to Novič's appeal in the case.
Unofficially, the decision does not mean yet that the court will uphold his appeal on a point of law, but it is an indication that it will.
Novič, a former employee at the National Chemistry Institute, was sentenced to 25 years in prison last year for murdering his boss in December 2014. The sentence was upheld by the Ljubljana Higher Court last December.
Jamnik was shot in the head twice in a parking lot in Ljubljana as the institute held its Christmas party. He died three days later and Novič was soon arrested as the main suspect.
The news web portal Nova24TV cited reliable information in reporting that Novič had been acquitted by the Supreme Court, but the court would neither confirm nor deny the claim.
Related: Chemistry Murder Saga Continues
Novič's lawyer Jože Hribernik is certain that the Supreme Court will either acquit Novič or quash the judgement against him.
Hribernik said that Dob prison had confirmed Novič would be released today. He added that his client had been in prison for three and a half years despite being innocent, which he said was "disgrace for the Slovenian judiciary".
Novič was released this afternoon, and said in a statement to the press that he found it hard to believe he was out of prison.
"I find it hard to grasp this is real, just as I've just told my lawyer that on 22 December 2014 I could not believe that was real," referring to the day when he was arrested.
"With the help of my lawyers, we've proved we're right, which is a great consolation," said Novič, adding he had not yet seen the court's decision but that he expected at least a retrial.