The court’s remaining three judges have issued a statement saying the order has been revoked “in light of the concerns raised by the president”.
President Abdulla Yameen has declared a state of emergency to investigate a “coup” against him.
The opposition has called for other countries to intervene in the crisis.
President Yameen ordered the arrest of Chief Justice Abdulla Saeed and another judge, Ali Hameed, on Monday.
On Tuesday, the president gave a televised address saying: “I had to declare a national emergency because there was no other way to investigate these judges.”
The remaining judges then issued a statement saying they were rescinding the original order.
As carried in bbc