During the trial, Stokes was alleged to have lied to the jury, mimicked and bullied two men on account of their homosexuality and acted like a football hooligan.
The all-rounder and his England team-mate Alex Hales, who was also involved in the incident, now await the outcome of a cricket disciplinary case, which had been on hold pending the conclusion of criminal proceedings.
Mr Stokes, 27, has insisted he was acting in self-defence when he punched Ryan Ali, 28, and Ryan Hale, 27, near a nightclub in the Clifton Triangle area of Bristol in the early hours of 25 September previous year.
Stokes' wife, Clare, and agent, Neil Fairbrother broke down after the verdict while the cricketer closed his eyes in relief without showing a lot of emotions.
Stokes was on trial for knocking out two men in the southwest English city of Bristol last September.
The jury retired earlier on Tuesday to consider their verdict.More news: Injury Update For Washington Redskins Rookie RB Derrius Guice
Kai Barry and William O'Connor told ITV News they were really thankful for what he did, after they were being threatened with homophobic abuse.
He said he had not been drunk but admitted he could not remember what had been said.
Ali denied that Mr O'Connor and Mr Barry were being "a bit of a nuisance" and he and Mr Hale were getting "irate" with them. He then offered his hand to Ali, who shook it. "We're here to concentrate on the cricket and I'm sure that's what he'll want to get back to as soon as possible".
Mr Ali, an emergency services worker, told jurors the England cricketer "was very angry and looking for someone to pick on" and said he only used a bottle after what would have been a "difficult decision for me to take".
Stokes will join up with the national team for the third test against India, which starts Saturday, the England and Wales Cricket Board said.
Another man charged with affray over the brawl, Ryan Hale, was acquitted midway through the trial after the judge issued a direction to the jury.
"I didn't know, they could be carrying more weapons on them".