A 33-year-old resident of Glendale, Calif., Browne was suspended by the company last month after his estranged wife, Renee Webb, accused Browne of domestic abuse.
Webb, a model, posted photos of her bruised arms, neck, and face on Instagram. She has not pressed charges against Browne.
The UFC conducted an independent investigation into the allegations, and found "inconclusive evidence" to support the allegations.
"Conducted by a former FBI agent with more than 25 years of experience, the seven-week investigation included interviews with multiple subjects associated with the principals, as well as the principals themselves," the statement read in part.