Lord Conrad Black, the former owner of The Daily Telegraph, has received a full pardon from President Donald Trump.

The former media mogul, a Canadian-born British citizen, was convicted in 2007 of fraud and obstruction of justice and spent 3-1/2 years in prison.

"An entrepreneur and scholar, Lord Black has made tremendous contributions to business, as well as to political and historical thought," the White House said in a statement.

"Lord Black’s case has attracted broad support from many high-profile individuals who have vigorously vouched for his exceptional character," including Sir Elton John and former US secretary of state Henry Kissinger.

"Consistent with his distinguished reputation for helping others, while in prison, Lord Black served as a tutor for 150 students, helping them achieve their educational goals," it added

"In light of these facts, Mr Black is entirely deserving of this Grant of Executive Clemency."