The independent probe established no undue influence by the Premier League champions over the Dutch club, to whom they have been regularly loaning players over the past five years.
The KNVB had ordered an investigation into the ownership and structure of the club following allegations by former owner Merab Jordania that Chelsea heavily influenced policy at the club.
But the association said its investigation had shown no written agreement between the two clubs and all loan agreements had been arranged in line with the regulations.
“In the interests of the integrity of Dutch football we gave an independent commission powers to make a broad and intensive investigation,” said a KNVB statement.
“Vitesse offered full co-operation and allowed access to all documentation, including the club’s shareholding agreements, loan agreements and meeting notes for the period 2010-14.”
The association also said Jordania did not respond to requests to co-operate with the investigation.
Vitesse, currently fifth in the Dutch top division, have taken Chelsea players on loan since 2010, including the likes of Nemanja Matic, Tomas Kalas and Gael Kakuta.
(Reporting by Mark Gleeson; Editing by Neville Dalton)
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