The Democratic-controlled Senate's bipartisan compromise won approval by 81 votes to 18.
The deal was then passed by 285-144 in the House of Representatives, whose Republican leadership begrudgingly agreed to support the measure.
The deal, however, offers only a temporary solution and does not resolve the budgetary issues that split Republicans and Democrats.
Obama said that he will sign the bill immediately and begin reopening the government.
According to CNN, federal workers should expect to return to work from Thursday, the director of the Office of Management and Budget said.
Director Sylvia Mathews Burwell said that as the bill has passed the United States Senate and the House of Representatives, the president plans to sign it and employees should return to work.
Yosemite National Park resumed operations from Wednesday night.
The GOP-led House gave the final stamp of approval to the Senate-brokered bill, passing it easily late Wednesday night.
After the passing of the bill, the debt cushion now extends through February 7, with current spending levels being authorized through January 15.
According to the report, the bill however does not address many of the contentious and complicated issues, from changes to entitlement programs to tax reform -- that continue to divide Democrats and Republicans.
The 16 days of the partial government shutdown, led to nearly 24 billion dollars in loses, Standard and Poor's estimated.
--ANI (Posted on 17-10-2013)