While Wallington found the women were "brave and honest witnesses", she said the prosecutors had not met the required standard for her to find McLachlan guilty of the allegations.
She found while some of the incidents probably occurred, they were not necessarily indecent and did not meet the "high criminal standard" in law.
Outside his lawyer's office, the actor said he put his trust in the law but would not go into any detail about the case.
"As you can imagine, we have a lot to say. We have maintained a dignified and respectful silence for the past almost three years and put our trust in the law," McLachlan said.
"Stay safe, be kind to each other, we will see you in the New Year and I think she is going to give me a smooch."
He also thanked his lawyer Stuart Littlemore QC for his "energy and humanity" during the lengthy matter.
Earlier in the three-day hearing, the magistrate lashed Littlemore for his use of "troubling and outdated" stereotypes in his questioning.
During the hearing, Littlemore tendered photos of the complainants in various poses.
"The photos do depict people in slutty poses and deliberately so. It's not to be sanitised, it's not to be diluted, this is part of the culture of permissiveness," he said at the time.
Wallington criticised his questions about the complainants' reputations based on the poses the women struck in those photos, their appearance or what they were wearing.
Before handing down her ruling, she also labelled the actor's behaviour as "egocentric" and said his "self-entitled sense of humour" may have led him to believe the victims were consenting to his acts.
But she ultimately rejected police allegations the former soap star touched a woman's genitalia over her costume on stage, that he stuck his tongue into one woman's mouth and that he felt up a woman's thigh.
"They are all liars," McLachlan told the court when he gave evidence last month.
Over three days, the actor denied the allegations, which he said he first heard about in the media back in 2018.
At one point during his evidence, he burst into song to demonstrate it was impossible to have used his tongue to kiss a woman on stage.
Videos were also aired in court of the actor performing a simulated sex act and sitting on a toilet after he labelled one of the accusers "vulgar".
Littlemore argued the acts did not happen or were unintentional.
The prosecution argued McLachlan used his position of power to assault the women and the "power imbalance" made them feel they were unable to speak up until the show's run was over.
"They were concerned what the accused had done to them and concerned about what he might do to others," he said of why the women came forward.
The contested hearing began last year and heard from more than a dozen witnesses.
