The former Top of the Pops presenter was cleared on a second charge of the same offence following a trial at London's Southwark Crown Court.
The jury were unable to agree a verdict on another charge of sexual assault and were discharged.
Travis, 69, who became a household name in the 1970s, had faced a retrial after jurors failed to reach verdicts on two of the charges earlier this year.
Wearing dark grey trousers and a light grey blazer, Travis stared straight ahead with a stony expression and held his hands in front of him as the verdicts were read out.
He glanced over his shoulder to his wife Marianne, who sat at the back of court, before sitting down.
The jury of six men and six women came to their verdicts after 19 hours and 15 minutes.
Prosecutor Teresa Hay told the court that the Crown would not be seeking a retrial on the count of sexual assault which the jury was hung on, and a formal verdict of not guilty was entered.
The forewoman told the court the jury had found Travis guilty of a single count of indecent assault by a majority of 10 to two.
Judge Anthony Leonard QC warned the former radio star that he was looking at "all options" when he considered his sentence.
Sophie Wood, defending, told the judge they would be asking for Travis to be given a non custodial community order sentence.
She said: "It is the defence position that we will seek to persuade your honour that this is a community order penalty. That is where we submit it fits.
"It's the defence position that a pre-sentence report would assist."
Judge Leonard said "all options remain open", including jail.
Travis left the courtroom accompanied by his wife Marianne, who put a protective arm around her husband's back as he left.
He declined to comment on the verdict, saying: "I'm not speaking to anybody right this moment."