During the 15-minute spacewalk, which started at 16.45 Beijing time (08.45 GMT), Zhai Zhigang, 42, waved China's national flag and carried out several equipment tests.
The astronaut wore a $4.4 million space suit weighing 120-kg (265 lb), which was developed by Chinese specialists with the help of Russian technologies and Russian experts monitored the suits throughout the mission.
With this achievement, China becomes the third country in the world after Russia and the United States to carry out successful spacewalks.
China's Shenzhou-7 spacecraft lifted off on Thursday from the Jiuquan Satellite Launch Center in the country's northwestern Gansu Province, bringing three astronauts on a three-day mission at an orbit with a maximum altitude of 343 km (213 miles).
China, which previously sent astronauts on space missions in 2003 and 2005, has recently unveiled comprehensive space exploration plans. The country plans to build its own orbital space station and create a space laboratory before 2020.