The 78-year-old cardinal was convicted in 2018 of abusing two choirboys in the 1990s, when he was the archbishop of Melbourne and was currently nearly two years into a 6-year sentence.
Today the High Court handed down its decision, granting Cardinal Pell's application for special leave and unanimously acquitting him.
The full bench of seven judges revealed in a unanimous judgment that the jury should have had reasonable doubt as to Pell’s guilt.
The decision means Cardinal Pell, who is Australia's most senior Catholic, will be released from Barwon Prison today.
Cardinal Pell released a statement shortly after the decision was delivered.
I have consistently maintained my innocence while suffering from a serious injustice.
This has been remedied today with the High Court's unanimous decision.
I look forward to reading the judgment and reasons for the decision in detail.
I hold no ill will toward my accuser, I do not want my acquittal to add to the hurt and bitterness so many feel; there is certainly hurt and bitterness enough.
However my trial was not a referendum on the Catholic Church; nor a referendum on how Church authorities in Australia dealt with the crime of paedophilia in the Church.
The point was whether I had committed these awful crimes, and I did not.
The only basis for long term healing is truth and the only basis for justice is truth, because justice means truth for all.
A special thanks for all the prayers and thousands of letters of support.
I want to thank in particular my family for their love and support and what they had to go through; my small team of advisors; those who spoke up for me and suffered as a result; and all my friends and supporters here and overseas.
Also my deepest thanks and gratitude to my entire legal team for their unwavering resolve to see justice prevail, to throw light on manufactured obscurity and to reveal the truth.
Finally, I am aware of the current health crisis. I am praying for all those affected and our medical frontline personnel.
Cardinal George Pell
In a statement, Victoria Police said it respected the High Court's decision and would continue to provide support to the complainants involved in the case.
"Victoria Police remains committed to investigating sexual assault offences and providing justice for victims no matter how many years have passed," the statement said.
"We would also like to acknowledge the tireless work on this case by Taskforce Sano investigators over many years."