Celebrity lawyer Nick Freeman has been told he will not face a charge of conspiracy to pervert the course of justice.
Nick Freeman has represented a number of celebrities
Mr Freeman, 49, of Mere, Cheshire, was arrested last October as part of an investigation by Gwent Police.
Dubbed Mr Loophole because of his success in motoring cases, Mr Freeman said he planned to resume his career.
In the past he has represented Sir Alex Ferguson, David Beckham and model Caprice through his Manchester firm.
Speaking on Thursday, Mr Freeman said he had always said he was innocent of wrongdoing and "that statement of fact was fully vindicated".
"For the avoidance of doubt, the case which was being investigated concerned a client I had never met, never spoken to, and did not defend in court," he said.
"The last seven months have been physically, mentally and emotionally draining.
"Throughout this time, I have had to cope with a severe and unnecessary strain upon my life.
"Now I fully intend to resume my career and very much look forward to doing so."
A Gwent Police spokeswoman confirmed a 49-year-old man arrested in the Manchester area on suspicion of conspiracy to pervert the course of justice has been released without charge.
"One 45-year-old man arrested at the same time last year, in connection with the same investigation, remains on police bail," she added.