The actor was released from a court order that gave her parents control of her finances for nearly nine years.
David A. Esquibias said that the judge in Ventura County terminated the conservatorship at a hearing in a courtroom in the Southern California city of Oxnard.
Lund wrote in court documents before he issued his decision that the court determined that the person no longer needed a conservatorship.
Bynes, now 35, shot to fame on a pair of Nickelodeon shows as a teenager, but struggles with mental health, substance abuse and the law prompted her parents to establish court control.
Lund said this week that Bynes was competent to manage her own affairs.
Britney Spears had a long, often bitter and public fight to free herself from a similar arrangement.
No one objected to the court's decision to end the conservatorship. Lynn Bynes had been her mother's conservator since it was established nearly nine years ago.
Her parents told the court that they were worried that their daughter might hurt herself or others if they were not allowed to take control of her finances.
They said that Bynes had engaged in disturbing behavior and that she was being watched through smoke detectors and her dashboard. Her parents were worried that she was going to have dangerous and unnecessary surgeries.
Bynes was arrested in New York for throwing a bong out of her apartment and in Los Angeles for driving with a suspended license in the year before the conservatorship was established. Her parents said she set a fire on the driveway of her home in Thousand Oaks, where she grew up.
She appeared on the sketch series All That and the variety show The Amanda Show when she was 13 years old.
She retired from acting after starring in the Emma Stone film.
Bynes has said in interviews that she has been sober for several years and is studying at the Fashion Institute of Design and Merchandising in Los Angeles.
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