Three local cases have been reported since Friday, and restrictions are set to be lifted at midnight (GMT 17:00).
State Premier Mark McGowan said the harsh steps had been “necessary”.
Australia’s snap lock downs have helped contained Covid outbreaks and kept infection rates low.
Mr McGowan described the lock down in the West Australian capital as a circuit-breaker that had “done the job it was designed to do”.
About two million residents in Perth, and the nearby Peel region, have been subject to stay at home orders since Friday.
Schools and most businesses are set to reopen, though some restrictions – including mandatory mask wearing – will remain.
“We need to be cautious as we come out of lock down as the virus could still be out there,” he said.
Western Australia will also temporarily reduce the number of international arrivals. Last week, Australia said it would temporarily cut the number of incoming flights from India by 30% as the country deals with a devastating surge in Covid cases.
In Australia, snap lock downs have proved to be an effective health measure to help suppress Covid outbreaks early on. The country has fared much better than most other nations during the pandemic, with fewer than 30,000 cases and 910 deaths.
At the same time, frustration has grown in Australia over the slow pace of the vaccination rollout. The immunization program me has been beset by delays and the country has one of the world’s lowest Covid vaccination rates.