The US singer-songwriter collected the prize's diploma and medal on Saturday ahead of a concert in Stockholm, a member of the Swedish Academy confirmed.
Klas Ostergren told the Associated Press "it went very well indeed", adding Dylan was "a very nice, kind man".
He said the 75-year-old received the award during a small gathering on Saturday afternoon at a hotel, with just academy members and Dylan's staff present.
Dylan himself did not mention anything about receiving the Nobel at his concert after months of discussion on whether he would collect the prize in person.
The Like A Rolling Stone singer took more than two weeks to respond to the announcement that he had been awarded the prize in October, finally saying he had been left "speechless" by the win.
He was named the winner of the prestigious accolade for "having created new poetic expressions within the great American song tradition".
Dylan declined the invitation to attend the traditional Nobel Prize banquet and ceremony in December, due to other commitments.
He will perform a second gig in Stockholm on Sunday night.