The lawsuit revolved around a payment by FIFA, the governing body of world football, to Platini in 2011. At the time, Platini was president of UEFA, the governing body of European football.
The Office of the Attorney General of Switzerland (OAG) accused both men of unlawfully arranging the payment of 2 million Swiss francs (current value US$2.05 million).
“I want to express my joy to all my loved ones that justice has finally been done after seven years of lies and manipulation,” Platini said in a statement to Reuters.
“The truth has come to light during this process,” he added. “I kept saying it: my fight is a fight against injustice. I won a first game.”
When Blatter walked into the courtroom to hear the verdict, he told reporters, “I’m not innocent in my life, but in this case I’m innocent.”
At the June trial, Blatter alleged that the payment to Platini was a payment of the salary owed by the Frenchman for consultancy work done with FIFA between 1998 and 2002.
“It’s a salary that was owed. I don’t know why we’re in a criminal hearing for an administrative proceeding,” Blatter said.
“Platini told me I’m worth a million and I told him so too, so you’ll be with me for a million – gentlemen’s agreement,” the 86-year-old continued.
The verdict is the result of an investigation that began in 2015.
After the couple’s acquittal, a FIFA spokesperson said: “FIFA takes note of the Court’s ruling in relation to the case opened by the OAG and will await the full reasoned judgment before commenting further.”