A police appeal led to a member of the public coming forward to help, as well as 117 possible sightings reported by other civilians.
Ms Davies was last seen on CCTV in Croydon on July 7 after leaving her home in Essex on July 4.
The 24-year-old Kings College London student has been the subject of a large investigation which has seen five people arrested and bailed in connection with her disappearance, two people were arrested on suspicion of murder and another three on suspicion of kidnap, although the force has now said there is no evidence she was harmed.
Detective Chief Inspector Nigel Penney said: "This is clearly the outcome we were hopeful for - the finding of the missing lady, Owami Davies.
"I'd like to say she has been found safe and well outside the London area in the county of Hampshire and she's currently with specialist officers from my team."
He added: "She looks in good health, she's in a place of safety, and not currently in the vulnerable state that we were led to believe she was in at the start of her disappearance."
The police have further confirmed that they will be reviewing their investigation alongside Essex Police after being subject to criticism over perceived failings, including releasing CCTV pictures of the wrong woman.
After that, they said: “We previously issued two still CCTV images of a woman in a shop which were titled Owami Davies shop 1/2.
“These images are not of Owami – please withdraw them from any publications.
“We will be sending out correct images ASAP and apologise for this error.”
They added: “The image was published in error and was removed as soon as this was realised.”
It has also been announced that the Independent Office for Police Conduct (IOPC) is considering investigating Scotland Yard after it emerged officers had been in contact with Davies on the day that she was reported missing.
Davies was reported missing on July 6, before Essex Police handed over the investigation to Scotland Yard on July 23.
The force were called to an address in Croydon after reports of concern for a woman.
The police attended and spoke to the woman, who refused help and left the address.
At that time, Davies was not reported missing on the police database, and it was only later that the officers established that she was the subject of a missing person investigation.
Featured Image Credit: PA/Alamy
Topics: UK News