The reds striker was accused of assault in a night club in Cardiff back in February before he moved to Anfield.
The Cardiff-born 27-year-old was accused of assault against Sophie Palmer, 19, and her friend Holly Smith, 20, at the No 10 club in February.
The player was cleared by district judge John Charles after a five-day trial at Cardiff Magistrates Court.
His co-defendant, Franklin Lynch, 52, of Barry, was found not guilty of common assault against Ms Palmer.
The judge told the striker: “It was inconsistent to convict you with the serious discrepancies in the prosecution case and the two charges are dismissed.”
The court heard that an exchange of words took place between the footballer and Ms Palmer in a corridor between to nightclub’s VIP bar and VIP lounge some time between 0100 GMT and 0130 GMT on 5 February.
During his closing speech on Wednesday, Mr Bellamy’s defence counsel, John Charles Rees, accused Ms Palmer and Ms Smith of “devious manoeuvring” during their evidence.
He also said the prosecution’s evidence was “confusing to say the least”. Mr Rees told the judge: “We simply say that the evidence is a shambles as far as the prosecution is concerned and you should acquit Mr Bellamy of the charges.”
The player will miss tonight’s game because of the court case.