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."
Bellamy returns to the Liverpool squad for the weekends match against Wigan at the JJB.