The high court has ruled that Elton was not libelled by the Times in articles that he claimed falsely linked him to a controversial tax avoidance scheme.
Mr Justice Tugendhat said in a short oral judgment handed down at the high court today that the two Times pieces were not capable of bearing the defamatory meaning alleged by the singer-songwriter.
Elton had complained that he was libelled by two articles on "The secrets of tax avoiders" published on June 21.
He said that the two items, part of the Times's prominent tax avoidance investigation, falsely claimed that he had used Patrick McKenna of Ingenious Media as his accountant in a tax avoidance scheme.
The day after the story was published, the Times published a correction in which is acknowledged that Patrick had never been Elton's accountant. A second clarification was added on July 26, stating that Ingenious Media had not been involved in tax avoidance activities.
Tugendhat ruled: "The conclusion I have reached is that the words complained of are not capable of bearing the meaning attributed to them by the claimant or any other defamatory meaning."
Elton sued the paper for libel damages after complaining that the articles were "severely damaging" to his reputation and charity work.
Counsel for the Times confirmed after the short hearing that the judgment puts an end to the matter.
Lawyers for the musician declined to say whether he would appeal.
A full written judgment will be handed down later.