He has cancelled a planned statement to the House of Commons - but he will be holding meetings throughout the day, and expects to be back to business as usual from tomorrow.
Tony Blair's heart condition came as a complete surprise - he's known to take good care of his health and when elected was one of the youngest ever Prime Ministers. So how serious is this?
SVT can be triggered by stress or caffeine but most often, it simply occurs out of the blue - sometimes as the result of a minor abnormality which may have existed from birth.
We heard from Dr Duncan Dymond, a cardiologist at St Bart's Hospital in London. He said it is not something to worry about:
This condition is common in fit healthy people. It could happen again but not necessarily. On the basis of one attack one shouldn't go overboard. It is a benign condition, if it happens again he'll probably be given medication, if it is a recurring theme then he could go for surgery to remove the electrical fault.
We also heard from Dr Simon Davies, a cardiologist from the Royal Brompton Hospital in London. He said the irregular heart beat is just a random fault:
It won't lead to anything else, it is a small nuisance. Blair does not have to make a real lifestyle change. Stress has been overplayed in recent years.
We spoke to Tony Blair's unofficial biographer, Dr Anthony Seldon. He said Blair is committed to staying on:
He enjoys keeping healthy, but he has had to increase his travel since 9/11. It has yet to be prooved that it was caused by stress. He is very determined to stay on as Prime Minister. This heart incident is just a blip.
More from News Online:
The 50-year-old has never suffered heart problems before but was taken to London's Hammersmith Hospital on Sunday, after complaining of chest pains at his Chequers residence and first going to Stoke Mandeville Hospital.
Doctors diagnosed supra ventricular tachycardia - a condition that causes heartbeat irregularities and shortness of breath - and ordered the father-of-four to rest for 24 hours.
He was kept in hospital for more than five hours and treated with a procedure called cardio version, which uses a small electric shock to make the heartbeat return to normal.
Downing Street sought to play down the scare, saying the prime minister planned to be back at his desk full-time on Tuesday morning.
BBC political correspondent Andrew Marr said officials described Mr Blair as "padding" around Number 10 on Sunday evening, chatting to people and in very good spirits.
A Downing Street spokesman said: "The hospital says this is a relatively common condition and is easily treated.
"He has suffered no damage and he is fine. There is no reason why this should reoccur. They have advised him to rest for 24 hours."
Mr Blair has been under a great deal of stress in recent months, particularly after the strains of the war in Iraq.
But experts said the condition was more likely to be something that simply affected some people rather than others, instead of being linked to stress.
Professor Sir Charles George, medical director of the British Heart Foundation, told BBC News Online "he should be able to carry on with his job as normal".
He said that "if it does reoccur, some sophisticated tests will be done and treatment will be given with the aim of sorting things out once and for all."
"Since he is prime minister, and he has been allowed home, that's a very good testament to the fact that this is not a long-term problem."
Professor George said the attack could be a one-off.
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Since he has been allowed home, that's a very good testament to the fact that this is not a long-term problem
