BBC news programme Newsnight alleged the club have made irregular payments to the side, in breach of regulations.
But after a probe by FIFA, Arsenal were given the all-clear.
A statement said: “After carefully analysing the documents and statements provided by the Football Association in relation to an alleged breach of club ownership rules, FIFA confirmed there is no evidence or indication of any infringement of the relevant regulations.
“The FA had already reached the same conclusion, having been requested by FIFA to investigate the case. Under the FIFA statutes, it is the responsibility of the member associations to ensure that neither a natural nor a legal person exercises control over more than one club whenever the integrity of any match or competition could be jeopardised.
“In view of these findings, FIFA does not see any reason for further investigation or for any additional measures to be taken in this connection.”
