Ferris faced a hearing in London on Wednesday after being cited for the challenge on Evans in the final minute of last weekend's 23-21 defeat at Lansdowne Road.
Following analysis of the video evidence and consideration of the explanation for the tackle, the three-man independent Six Nations disciplinary committee chose not to uphold the citing.
Ferris reacted to the decision on Twitter, saying: "Thank goodness that is all over. Happy man."
The tackle resulted in referee Wayne Barnes issuing a yellow card and penalty, which Leigh Halfpenny landed to snatch victory for Wales.
It was widely felt that the tackle, in which Ferris picked up Evans by his right leg and dumped him on his side, warranted a penalty at worst.
Ireland were hopeful their destructive blindside flanker would escape any punishment and have been vindicated by the verdict of the hearing.
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