Australian has been cleared of doping after Sport Integrity Australia (SIA) dropped its investigation.
His exoneration ends a saga dating back to mid-January when the 29-year-old athlete was .
"I have been exonerated," Bol said in a statement on Tuesday.
"It was a false positive, like I have said all along!
"The news from Sport Integrity Australia was a dream come true."
In a statement, SIA confirmed it had concluded its investigation.
"The further analysis resulted in varying expert opinions as to the positive or negative reporting of the sample, and the A-sample was reported as negative," SIA said.
"As a result, Sport Integrity Australia has taken the decision not to progress an anti-doping rule violation for this sample.
"The investigation into this sample is finalised."
Here's how we got to this point.
When was Peter Bol suspended?
In January, Bol - - was told he had tested positive for the banned drug erythropoietin, known as EPO, in October 2022.
EPO boosts the amount of red blood cells in the body and can improve aerobic capacity.
Athletics Australia provisionally suspended the from formal training and competition at any level.
Bol said he had never taken a prohibited substance.
"When I found out last week that the A Sample from a urine test taken on 11 October had tested positive for synthetic EPO, I was in total shock," he wrote in a statement at the time.
"To be clear, I have NEVER in my life purchased, researched, possessed, administered, or used synthetic EPO or any other prohibited substance."
Peter Bol is set to represent Australia at the World Athletics Championships in Budapest. Source: Getty / Glyn Kirk/AFP
"Given the subjective nature of interpreting this kind of test, I have asked that the lab perform a secondary confirmation," he said.
"Above all, I remain hopeful that the process will exonerate me.
"My career, hopes and dreams are literally hanging in the balance over these next few weeks."
When was Peter Bol's suspension lifted?
The ban was lifted in February when Bol's B sample returned an atypical finding (ATF), which was neither positive nor negative.
Despite Bol vehemently claiming his innocence, SIA continued to look into the matter.
"An ATF is not the same as a negative test result," SIA said in a statement in February.
SIA said an ATF is a report that is not conclusive and must be further investigated by the World Anti-Doping Agency (WADA), a body that seeks to stop drug use in sports.
In March, Bol's lawyer Paul Greene demanded SIA drop the "sham" case.
Bol and Greene said the samples had also been sent for independent testing at two laboratories, and results showed no trace of any banned substance.
"We had two of the most world-class analytical chemists in the world look at his results and say this wasn't even a close call, these were just negative tests," Greene told the Nine Network.
He called on SIA to admit their errors.
"They just couldn't get it right, they had no idea what they were doing," Greene said.
"And the worst part of it now is: one, it was announced first of all, which it never should have been, I begged them not to announce it.
"Two, now they just ... obviously are wrong, they are refusing to drop this sham investigation."
What happens next for Peter Bol?
WADA said it was satisfied that SIA had followed all applicable processes in accordance with the World Anti-Doping Code.
"Indeed, SIA openly and regularly communicated with WADA throughout," WADA said in a statement.
"While we have no reason to question the validity of the analytical method used for recombinant EPO, WADA will assess the current review process in light of the particularities of this case."
Australian 800m runner Peter Bol won the silver medal at last year's Commonwealth Games. Source: AAP, AP / Alastair Grant
"I am glad that WADA has agreed to review the EPO testing processes to prevent future false positives," he wrote.
"No one should ever experience what I have gone through this year."
He said he was in good form ahead of the event.
"My focus is now on the World Athletics Championships coming up in Hungary," he wrote.
"I am in good form and feeling well."
The opening round of the men's 800m in Budapest is on 21 August.
Australia will be represented in the men's two-lap race by Bol and his training partner and Joseph Deng.
