The man was on temporary release for a work placement when he fled on Monday.
Prison officers raised the alarm at 5pm on Monday.
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Contacted for comment, the IPS said it had informed gardaí of the situation.
The IPS said: "The Irish Prison Service can confirm on October 26, 2020, a prisoner on Temporary Release to work placement at Mountjoy Prison went unlawfully at large.
"An Garda Síochána has been notified."