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A single-judge bench of the Sindh High Court gave the verdict in response to a review petition filed by the Pakistan People's Party leader's lawyer.
The court acquitted Pakistan's former high commissioner to Britain Wajid Shasmul Hassan who was also an accused in the case.
The case was registered in 1997 after a consignment of eight boxes was intercepted at London airport. The boxes allegedly contained artifacts, antiques and other contraband items.
Zardari and Hassan were charged with smuggling the items to London. Two others accused in the case, a former deputy collector of customs and a former managing director of Pakistan International Airlines, were earlier acquitted by a trial court.
Several corruption cases against Zardari, which dated back to his slain wife Benazir Bhutto's two terms as prime minister, have been scrapped by Pakistani authorities in the wake of a controversial order issued by President Pervez Musharraf in 2007 to drop all graft charges against the couple.
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