"The league is satisfied with the explanation provided by the club and no further action is required," O and M general manager Sean Barrett said.
A photo emerged on Monday night, May 11, showing more than two footballers training, which would have been breaking COVID-19 restrictions at that time.
The picture was taken outside the fence at Rovers' home ground WJ Findlay Oval and was posted on the O and M league's Facebook account of ex-Wangaratta forward Mitch Jensen with the comment: "Same rules apply for Rovers?"
The clubs boast the league's strongest rivalry.
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The league sought a "please explain" from the Hawks, with president Wally Pasquali admitting a couple of thirds footballers and netballers were present.
However the club said it wasn't a club-endorsed session, adding a family of five was also exercising.