The media swarmed the gangland figure after being granted bail by the Court of Appeal on Friday morning.

Three appeal judges found he had a "strong" case in his bid to overturn his drug trafficking convictions.

Reporters and photographers were joined by police and public members filling the streets around the court in Melbourne's CBD as the 59-year-old walked out about three hours after his bail was granted.

The crowd applauded, but Mokbel did not answer any questions from the media as he got into a Mercedes-Benz and left the area.

The trio of Court of Appeal justices decided Mokbel should be freed on appeal bail. He had demonstrated exceptional circumstances to live in the community while fighting to overturn drug trafficking convictions as lawyer-turned-informer Nicola Gobbo represented him.

"Mr Mokbel will be granted bail," court president, Justice Karin Emerton, said. "This was a very unusual case. As he was required to, Mr Mokbel has established his circumstances are truly exceptional."

The judges ordered Mokbel to be subjected to "extensive conditions" while on bail, including GPS monitoring via an ankle bracelet and bans on him using a smartphone or any encrypted software.

Mokbel has not tasted freedom since his 2007 arrest in Greece after he famously absconded inside a yacht while on bail with a $1 million surety from his sister-in-law Renate.

"It's 19 years since the events in 2006, Mr Mokbel has aged since then and he has suffered a traumatic brain injury.

"He is not the man that he once was on medical reports."

With AAP.