Chris Gayle was delighted to have cleared his name in Australia
After less than two hours of deliberation, the jury found Fairfax media had failed to establish the truth of a series of reports it ran alleging the cricketer had exposed himself to masseuse Leanne Russell during the tournament.
It also found Fairfax had failed to establish that the allegation Gayle had propositioned the masseuse was "substantially true".
"I came all the way from Jamaica to actually defend myself and my character as well. At the end of the day I'm very, very happy," Gayle told reporters outside the court.
"I'm a good man. I'm not guilty.
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"I am glad the public actually get a chance to read into things and they can hear what actually transpired."
The jury also found that Fairfax, which publishes The Sydney Morning Herald and The Age newspapers, was motivated by "malice" in publishing the stories.
A hearing over the amount of damages will be held at a later date but the defence lawyer for Fairfax said he would be considering an appeal, local media reported.
"It will cost the company a lot of money unless we can reverse it on appeal," said Peter Bartlett, a solicitor acting for the company.