The Rangers boss was handed a notice of complaint for comments made in the wake of Dundee United defender Ryan Edwards' challenge on Gers striker Alfredo Morelos during last month's Premiership match at Ibrox.
The Colombian had to be stretchered off with a nasty gash after being caught by the Tannadice stopper's follow through.
Edwards escaped punishment from referee Kevin Clancy and, speaking after the match, Gerrard said: "I'd be very interested to see what the decision would have been from the officials had the shoe been on the other foot and it was Alfredo who had made that tackle."
Gerrard was accused of breaching rule 72 which covers comments which "indicate bias or incompetence" on the part of match officials but a disciplinary tribunal hearing on Monday found it "not proved".
Rangers issued a statement on their official Twitter account which stated they were "unsurprised at the outcome of today's hearing but remain bemused that the charge was brought against our manager Steven Gerrard in the first place.
"We now look forward to focusing on more important matters on the field of play."
Gerrard had faced the prospect of being banned from the touchline when his side face Celtic at Parkhead on Saturday but he can now take his place in the dugout.