In a dramatic end to the high profile case, the jury cleared the Spurs boss, 64, and Mandaric, 73, of all charges, according to reports.
Both men had denied two counts of cheating the public revenue when Redknapp was manager of Portsmouth Football Club.
Jurors accepted Redknapp’s denials that he avoided tax on any payments over £189,000 found in a Monaco account.
The pair’s acquittal brings to an end a five-year police investigation costing £8m which failed to yield a single conviction.
It can also now be reported that at an earlier investigation, Mandaric and former Portsmouth chief executive Peter Storrie were also cleared over a £600,000 tax dodge claim at a previous trial.