Yella Beezy is back on the streets ... 'cause he made bail in the Texas murder case against him after his bond was reduced.

The rapper was released from custody Friday morning after posting a $750K bond ... about a week after he was arrested for allegedly intentionally and knowingly causing the death of Melvin Noble, AKA Mo3, who was shot to death in broad daylight on a Dallas highway in 2020.

While YB's bail was initially set at $2 million, a Texas judge lowered it Thursday at a bond reduction hearing.

As we told you ... prosecutors are accusing Yella of employing a man named Kewon White to kill Mo3. Yella Beezy -- legal name Markies Conway -- has pleaded not guilty.

Dramatic video shows Mo3 being chased down on foot and shot on a busy Texas interstate back in 2020 ... and, White has been charged with the murder for allegedly firing the bullet that killed the rapper.

Surveillance video capturing cops escorting Yella into a police station -- hands cuffed behind his back -- has gone viral in the days since his arrest. The video shows Yella Beezy calmly looking around ... no emotion permeating his stoic expression.

Yella's attorney, Toby Shook, tells TMZ ... Yella "feels relieved to be released. I can't comment any further on his plans."