The 31-year-old woman was detained after the 40-year-old man died at a property in The Lukes, Dudley Wood, on Monday.
The woman, who is believed to have been known to the man, was released on bail on Wednesday as the police investigation continues.
The cause of death has not yet been confirmed but a post mortem was due to be carried out on Tuesday.
A police spokeswoman said: "We have released on bail a woman we have been questioning about the death of a 40-year-old man.
"We’re continuing to investigate the death of a man who was found injured at an address in Netherton on Monday, June 14.
"The 40-year-old was confirmed dead soon after we arrived at a property in The Lukes at around 1.15pm.
"A post mortem examination was due to take place on Tuesday, June 15 and our enquiries around the circumstances are ongoing."