“Since the first day of this investigation, I have maintained my innocence against these extremely serious accusations,” said Paqueta.
“I can’t say anything more at this time, but I would like to express how grateful I am to God and how eager I am to return to playing football with a smile on my face.
“To my wife who never let go of my hand, to West Ham United, to the fans who always cheered me on, and to my family, friends and the legal team who have supported me – thank you for everything.”
Paqueta’s lawyer, Alastair Campbell, told BBC Radio 5 Live his client is “very emotional and very delighted” and has “an enormous weight off his chest”.
The former AC Milan and Lyon player scored four goals in 33 Premier League appearances for West Ham during the 2024-25 season.
Paqueta was in tears after being booked against Tottenham in May, with his wife Maria Fournier saying in an Instagram post on the same evening they had “been living this nightmare for two years”.
After being charged by the FA last year, he said he was “extremely surprised and upset”.
Paqueta joined the Hammers from Lyon for an initial £36.5m in August 2022 and helped the club win the Europa Conference League during his debut season.
He was reportedly set for a £85m move to Manchester City, external in August 2023 before the FA investigation came to light.
Campbell said there “certainly” could be legal implications regarding the collapse of that possible “dream move”, but added they will wait for the full written reasons before deciding whether to take any action.
West Ham vice-chair Karren Brady said the club are “pleased” by the verdict and “resolutely stood by” Paqueta throughout the process.
She added: “It has been a difficult time for Lucas and his family, but he has remained absolutely professional throughout and he is now looking forward to drawing a line under this episode, as is everyone at West Ham United.”
The FA said it is awaiting the written reasons from the regulatory commission and “will not be commenting further until that time”.