In a statement released on Thursday, a court in Las Palmas, Gran Canaria, declared that "no offence" had been committed by the 23-year-old following the withdrawal of charges by the two complainants, to whom he had previously apologised.
Asencio was charged in 2025, alongside three former teammates from Real Madrid's youth academy, for his alleged involvement in the recording and unauthorised distribution of sexually explicit videos involving two young women aged 16 and 18.
The three other players, Ferran Ruiz, Juan Rodriguez and Andres Garcia, were found not guilty of distributing intimate footage without consent but were given a one-year suspended prison sentence for "child pornography" and must attend a sexual "re-education" course.
Asencio, who was not present at the time of the incidents, was charged with sharing the videos with a third party.
The drink-driving incident also occurred in Gran Canaria.
The centre-back was more than three times over the legal limit on August 16th.
Mourinho 'not happy' about drink-driving
Asencio was convicted by a court in San Bartolome de Tirajana, a village in Gran Canaria, and fined €14,400, while his driving licence was suspended for eight months.
Mourinho praised the player while saying Asencio had let Real Madrid down.
"He's a model professional. When he was fit, no one trained as hard as him," Mourinho said.
"Now that he's been injured for a few weeks, he's the first to arrive and the last to leave.
"But a Real Madrid player remains so 24 hours a day, seven days a week, 12 months a year.
"Everything you do outside the pitch represents Real Madrid and could affect the club's prestige.
"I'm not happy. Everyone makes mistakes, but when they pile up, it's not the same."
Asencio suffered a hamstring injury in July and has yet to be picked for a matchday squad by his new coach.
He played regularly for Real in the previous two seasons.