The verdict against Gurjit Dhillon was handed down in Surrey Friday in connection with the death of Pritam Benning.
The Crown had originally alleged that Dhillon was street racing in his black Corvette when he hit a car, lost control and struck Benning at a bus stop.
Benning died five days later in hospital.
The court heard a 911 tape of Dhillon, who remained at the scene, calling 911 to report the incident. He told the operator that something had happened to his car before he hit the man, and it "just went out of control."
Dhillon then described the victim as bleeding heavily from open wounds on broken ankles. The recording ended with the operator telling Dhillon to wrap up the wounds in a cloth or towel.
Witnesses had reported that they thought Dhillon might have been racing another car, a yellow Corvette. But, despite appeals from Benning's family, the driver of the other car never came forward.
The Crown eventually dropped the charges of street racing against Dhillon.