"I think the facts are clear on the case at this point in time, and I don't plan any discipline," Goodell said during a visit to Bills training camp.
Goodell based his decision on the fact that Lynch eventually agreed to plead guilty to a traffic violation, which is not a violation of the NFL's personal conduct policy. Lynch initially faced more serious charges.
Goodell warned Lynch of the importance to act responsibly because he represents NFL players, the Bills and the league.
"He understands that responsibility," said Goodell, who made the visit in part to meet with Bills owner Ralph Wilson and Sen. Charles Schumer to discuss the franchise's long-term viability.
Lynch, who angered prosecutors over what they said was his lack of cooperation with their investigation into the hit and run, has not spoken to reporters since arriving at camp Thursday and declined comment following practice Monday.
"I'm aware of what he said and it certainly makes sense to me," Jauron said. "I certainly agree with him. We're relieved."
The Bills starting running back and 2007 first-round draft pick lost his license after pleading guilty to a traffic violation last month. As part of the plea agreement, Lynch admitted speeding off in his Porsche Cayenne SUV after striking a female pedestrian near Buffalo's downtown bar district on May 31.
The victim, a 27-year-old woman from suburban Toronto, was treated and released from the hospital later that day after sustaining a bruised hip and cut to her thigh that required seven stitches.