The Pasto Observatory of Vulcanology and Seismology dropped the alert on the Galeras volcano, located near the south Colombian city of Pasto, from red to orange. This means that "eruptions will probably finish in days or weeks", Caracol Radio reported Thursday.
Orange alert will maintain all the emergency measures currently in place.
Authorities had called a red alert last Sunday and
ordered some 8,000 people living in the vicinity of the volcano to evacuate.
The Colombian Red Cross reported that there are 361 people housed in emergency lodgings.
Authorities had previously kept the alert on red because another explosion was believed to be "imminent" but there have been no further eruptions since Monday.
