The news is a welcome boost for the 29-year-old, who has been eyeing a return to his throne for several months. But there remain several hurdles for Fury to cross before he can step through the ropes once more.
The former unified world champion, who has been in the gym training alongside Ricky Hatton near Manchester in recent weeks, ballooned up to 25st during his two-year hiatus from the sport.
He also remains without a boxing licence from a British Boxing Board of Control but can now apply for one. UKAD revealed, however, that the BBBofC agreed with the decision to end proceedings against the self-styled Gypsy King.
Both Tyson and his cousin Hughie, who unsuccessfully challenged for the WBO world heavyweight title in September, were charged with doping offences by UK Anti-Doping.
Read more: Boxing: Tyson Fury probed over drugs after 'traces of banned steroid were found in a sample'
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The hearing, which had been delayed and unresolved for months, was due to resume on Monday. But neither Fury nor UKAD turned up to the hearing, prompting further uncertainty surrounding the two fighters' future.
But in a joint statement released on Tuesday, UKAD and the Furys revealed that they had reached an agreement that would see the boxers accept a two-year doping ban backdated to December 13, 2015.
The charges related back to tests in February 2015, which revealed 'reported presence of elevated levels of nandrolone metabolites in urine samples'.
But a UKAD statement explained@ 'Taking into account the delays in results management that meant charges were not brought in respect of the nandrolone findings until June 2016, and the provisional suspensions that Tyson and Hughie Fury have already effectively served, the two year period of ineligibility is backdated to 13 December 2015, and therefore expires at midnight on 12 December 2017.
