The Christian sportsman made comments relating to homosexuality and his biblical views on the BBC's Victoria Derbyshire Show which were then the subject of a complaint to Greater Manchester Police.
But the force said that while the comments had been recorded as a "hate incident", it was taking no further action against the 27-year-old after interviewing the complainant.
A GMP spokesman said: "The circumstances in which these comments were made suggest that no criminal offence has taken place and this matter will not be investigated any further."
Fury, a committed Christian who often refers to his faith, has faced a barrage of criticism over his personal views since he stunned Wladimir Klitschko to win the WBA, IBF and WBO belts last month.
It followed a November interview with the Mail On Sunday in which Fury said: "There are only three things that need to be accomplished before the devil comes home: one of them is homosexuality being legal in countries, one of them is abortion and the other one's paedophilia."
He has since refused to back down on the claim but told Jeremy Vine on BBC Radio 2 he did not equate homosexuality to paedophilia.
Fury told Vine: "Homosexuality, abortion and paedophilia - those three things need to be accomplished before the world finishes - that's what the Bible tells me.
"That isn't my opinion, I didn't say that, that's what the Bible tells me, and that's all I said. I didn't say I had a problem with homosexuals or abortionists or paedophiles, I didn't say I'm with it or against it, I just stated what I am taught through my scriptures."
He added: "I don't think that homosexuals and paedophiles are alike, of course I can tell the difference, two adults consenting to have sex with each other is nothing like an adult messing with a child, is it.
"Let's not make any mistakes I don't think gay people are like paedophiles, that's not what I said.
"Two adults consenting to love each other is a different matter to an adult messing with a child.
"There are lots of things in this life that are sins and whoever hasn't sinned can throw the first stone at me."