The actor has served two years of the 10 years imprisonment after being found guilty of drugging and molesting ex-basketball player Andrea Constand in 2004.

The court vacated his conviction on the ground that his due process rights were violated.

Back in 2005, when former Montgomery County District Attorney Bruce Castor investigated allegations of drugging and rape against Cosby, the prosecutor had decided to not prosecute him in return for his deposition in a civil case.

However, in 2015 a new prosecutor filed charges when testimony from a civil lawsuit brought by Andrea Constand against the actor was revealed, stated a BBC report.

"In light of these circumstances, the subsequent decision by successor D.A.s to prosecute Cosby violated Cosby's due process rights," the judges wrote, quoted CNN.

"There is only one remedy that can completely restore Cosby to the status quo ante. He must be discharged, and any future prosecution on these particular charges must be barred", the 79-page finding reads.

"We do not dispute that this remedy is both severe and rare. But it is warranted here," a BBC report quoted the panel as saying.

In 2018, Cosby was convicted and sentenced to 3 to 10 years in a state prison for drugging and sexually assaulting Andrea Constand at his home in 2004.

"I want to thank the Supreme Court who saw the light and saw the truth," Cosby's family said in a statement released by their press representative, Andrew Wyatt, according to CNN.

Many women had accused Cosby of sexual assault on public forums, though he faced criminal trial for the case against Andrea Constand.

His conviction in 2018 was widely lauded as a landmark moment in the #MeToo movement.

Cosby earned fame for starring in the 1980s TV programme The Cosby Show and was once known as "America's Dad".