Mr Love’s possible extradition to the US was to be prosecuted on charges that he had stolen vast amounts of data from US government agencies between 2012 and 2013.
American authorities have said it would be “oppressive” to Mr Love’s health if he were extradited.
"It's the first time in four years that I've been confident that I have a future in my life,” Mr Love tweeted after the decision.
Mr Love had been arrested in 2015 by UK extradition authorities on behalf of the US.
The 33-year-old engineering student has Asperger syndrome, a condition on the autism spectrum that is often characterised by normal intelligence but difficulty with social skills.
Mr Love also has been diagnosed with depression and suffers from severe eczema.
His family had said he may commit suicide if the US had held him and put him in solitary confinement, as is the procedure for those at risk.
He originally faced up to 99 years in prison for the suspected hacks into the FBI, National Security Agency, and NASA.
However, Mr Love told the Press Association: “if I'm not convicted or acquitted here then the US can keep the case open indefinitely.”
Mr Love said that if UK authorities cannot gather enough evidence against him and the US case remains open indefinitely, he will not feel safe to travel outside England and Wales.
"The US may for whatever reason be somewhat reluctant to cooperate with sending evidence, so the CPS may find it's difficult to prosecute the case. I may have to help them in order to get it over and done with,” he said.
However, he noted that he is “not at all convinced that I committed any crimes. It's for the US to cough up a bit of evidence."
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