The former Manchester United and Socceroos goalkeeper "clipped" the cyclist following a confrontation in Sydney's CBD on May 21 last year.
The cyclist, who was allegedly three times over the limit, is accused of throwing a bike lock at the Fox Sports presenter's passenger side mirror.
Bosnich, 43, pleaded guilty in April to reckless driving after prosecutors dropped the words "furiously" and "dangerous" from the charge.
Bosnich steered into the cyclist after the two had a dispute about changing lanes on Erskine Street, police facts state.
Bosnich's lawyer Ross Hudson told Downing Centre Local Court on Tuesday that after the verbal exchange, the cyclist threw a bike lock at the commentator's passenger-side car mirror.
He said Bosnich only pulled over to "inquire" with the cyclist as to what had happened.
It was then, Mr Hudson told the court, that Bosnich "clipped" the man's back wheel.
The cyclist fell from his bike, injuring his rib and elbow, facts state.
It has since been revealed the cyclist was around three times over the blood alcohol limit at the time of the offence.
Mr Hudson said Bosnich had an "illustrious soccer career" and the matter had "significantly tarnished" his good reputation.
In sentencing him to a one-year good behaviour bond without conviction, Magistrate Michael Price said it was on the "lower end of culpability" and that he was a man of good character.
Outside court Bosnich said "it was a misjudgment and now we can all put it behind us".