The pair, once among the most powerful figures in global soccer, were cleared of fraud at the Extraordinary Appeals Chamber of the Swiss Criminal Court in the town of Muttenz, near Basel.
The long-running legal saga began in 2015, when Blatter quit as head of FIFA in a corruption crisis.
Ex-UEFA president Michel Platini has criticised former FIFA chief Sepp Blatter, saying the Swiss who led soccer's world body for 17 years was determined to make him "his last scalp".
UEFA on Wednesday overwhelmingly elected Slovenian lawyer Aleksander Ceferin, almost unknown three months ago, as its new president to lead the world's most powerful football confederation into a new era after Michel Platini was forced to resign.
Three candidates to succeed the disgraced Michel Platini as president of UEFA make the shortlist on Friday for the vote to take place in Athens.
Lionel Messi is rewriting football history. Before the emergence of the Argentine attacker just over a decade ago, the game's records were spread out among a select band of legends. But now there are hardly any left for anyone else.
Michel Platini has withdrawn his candidacy for the Fifa presidency in order to clear his name following his eight-year ban from football.
Fifa President Sepp Blatter and Uefa boss Michel Platini have been suspended for eight years from all football-related activities following an ethics investigation.
FIFA approves five candidates to stand in February's vote to replace Sepp Blatter as president of world football's governing body, but Michel Platini has not yet made the list.
Michel Platini, president of European football body UEFA and suspended amid a huge corruption scandal rocking the game, admits there is no written contract for remuneration he received from world body FIFA.
Fifa is discussing delaying the election for its next president, two sources told Reuters, a move that could give Michel Platini more time to appeal against his ban.
Fifa provisionally suspends its president Sepp Blatter, secretary general Jerome Valcke and vice-president Michel Platini for 90 days.
Fifa president Sepp Blatter has been provisionally suspended for 90 days.
UEFA president Michel Platini has thrown his weight behind Jordan's Prince Ali bin al Hussein in his bid to unseat Sepp Blatter as the head of football's world governing body FIFA.
