Infantino had been investigated by Fifa's independent ethics committee over "potential breaches" of rules relating to conflicts of interest, loyalty and offering and accepting gifts.
But an ethics committee statement read: "After conducting both preliminary and formal investigation proceedings, the investigatory chamber of the independent ethics committee has decided to conclude its investigations concerning Fifa president Gianni Infantino. It was found that no violation of the Fifa code of ethics (FCE) had been committed by Mr Infantino.
"The adjudicatory chamber took note of and accepted the decision of the investigatory chamber."
Infantino took charge of the game's global governing body in February, replacing the embattled Sepp Blatter, and vowed to "restore the image and respect of Fifa".
The 46-year-old Swiss-Italian had denied any wrongdoing and welcomed Friday's announcement.
A statement released on his behalf said: "Fifa president Gianni Infantino is pleased that, following a thorough review, the investigatory chamber of the independent ethics committee has determined that "no violation of the Fifa code of ethics (FCE) has been committed.
"This decision has been accepted by the adjudicatory chamber of the ethics committee, which conducted its own comprehensive review of the decision.
"The president would like to thank all those who cooperated with the ethics committee to ensure that the facts were heard and the truth prevailed."