Von Miller will NOT be punished for illegally catching a hammerhead shark on a 2018 fishing expedition ... but not everyone involved got so lucky.
We broke the story ... the NFL star was investigated by the Florida Fish and Wildlife Conservation Commission after Von posted footage showing off a 9-and-a-half foot shark he caught off the coast of Miami.
The incident was escalated when PETA -- People for the Ethical Treatment of Animals -- publicly vowed to hold Miller and his crew accountable for what they believed was an illegal catch and kill.
For Miller's part, he insisted the shark was thrown back into the water alive.