The England star and Liverpool captain was cleared of attacking businessman Marcus McGee, 34, after a row over music at a bar.
The 29-year-old was with friends at the Lounge Inn, in Southport, Merseyside, in the early hours of December 29 when his party clashed with McGee, a member of another group.
The prosecution said Gerrard, from Formby, Merseyside, became furious that his request was refused and "lost it", punching Mr McGee "with the style and speed of a professional boxer".
But the jury accepetd Gerrard's defence that he was acting in self defence, having mistakenly believed Mr McGee was about to attack him.
Five of his friends had already admitted affray - Ian Gerrard Smith, 19, of Hilary Avenue; John Doran, 29, of Woodlands Road; and Paul McGrattan, 31, of Linden Drive, all Huyton Accrington Stanley footballers Robert Grant, 19, of Enstone Avenue, Litherland, and Ian Dunbavin, 28, of Guildford Road, Southport, also admitted affray.
Another friend, John McGrattan, 34, of Rimmer Avenue, Huyton, admitted threatening behaviour.