The Snowy-Owl chairlift derailed at the Lecht ski centre at Corgarff, Aberdeenshire, on the afternoon of Tuesday February 12 last year.
Three adults and five children were injured as a result of the incident and a number of skiers were left stranded in freezing temperatures for more than an hour.
The Health and Safety Executive (HSE) said it would not be recommending court action.
It launched an "extensive" probe in the immediate aftermath of the accident.
Officials have now found that the chairlift had received "appropriate levels" of inspection and maintenance and the operator had fulfilled its legal duties under health and safety laws.
Investigators concluded the incident happened when a unit connecting the chairlift rope to the tower suffered damage, causing it to disengage and the chairs to drop.
In a statement, the HSE said: "The investigation also concluded the chairlift had been subject to appropriate levels of inspection and maintenance and the operator had discharged his legal duties in terms of health and safety legislation.
"Therefore, based on current evidence, it is not HSE's intention to recommend further action to the Crown Office Procurator Fiscal Service."
After the incident, the Snowy Owl chairlift was fitted with extra safety features "beyond that required or recommended by the manufacture or the relevant standard", the HSE added.
The Crown Office said it would be inappropriate for it to comment as it had not received a report from the HSE.