The Blues were charged by the European governing body for alleged racist behaviour of supporters during a Europa League match against Hungarian side Vidi in December.
At the time the club issued a strong statement condemning offensive chanting but UEFA has "decided to close the disciplinary proceedings against Chelsea FC" following a meeting of its control, ethics and disciplinary body.
The chanting was alleged to have taken place during Chelsea's 2-2 group draw with Vidi at the Groupama Arena in Budapest on December 13.
"Anti-Semitism and any kind of racial or religious hatred is abhorrent to this club and the overwhelming majority of our fans," a club spokesman said after the chanting was first reported. "It has no place at Chelsea or in any of our communities.
"Any individuals that can't summon the brainpower to comprehend this simple message and are found to have shamed the club by used using anti-Semitic or racist words or actions will face the strongest possible action from the club."
The matter, however, will no longer be pursued by UEFA.
Manchester United, meanwhile, have been fined £13,700 relating to crowd problems at their Champions League last-16 first leg clash against Paris St Germain earlier this month.
Charges against United concerned the throwing of objects and blocking of stairways at Old Trafford.