The convict, who is now 20 years old and was known to be the most brutal of the attackers, has been taken to an undisclosed location from a correction home in North Delhi amid concerns that there was threat to his life.
Sources said the juvenile has been kept under observation of an NGO under protection of Delhi Police.
The convict was moved out a day after the high court refused to stay his release.
The convict is likely to walk free from the undisclosed location on Sunday, in adherence to the existing legal provision, the sources added.
Delhi government has said it had submitted a rehabilitation plan for the juvenile convict.
The government said that as per the plan, a one-time financial grant of Rs 10,000 will be given to the youth and a sewing machine will be arranged for him so that he can rent a tailor shop.
The convict along with five others had gangraped and murdered the 23-year-old paramedical student in a moving bus on December 16, 2012, an incident that shook the nation and led to protests in the country.
He was sentenced to three years in a reform home 'Place of Safety' in north Delhi's Magazine Road by Juvenile Justice Board, a punishment which drew criticism from several quarters saying it was not adequate and was disproportionate in view of the heinous crime he had committed.
There were also demands that he be tried in an adult court.