The Collaborative International Dictionary of English v.0.48:

Absolve \Ab*solve"\ (#; 277), v. t. [imp. & p. p. Absolved; p.
   pr. & vb. n. Absolving.] [L. absolvere to set free, to
   absolve; ab + solvere to loose. See Assoil, Solve.]
   1. To set free, or release, as from some obligation, debt, or
      responsibility, or from the consequences of guilt or such
      ties as it would be sin or guilt to violate; to pronounce
      free; as, to absolve a subject from his allegiance; to
      absolve an offender, which amounts to an acquittal and
      remission of his punishment.
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            Halifax was absolved by a majority of fourteen.
                                                  --Macaulay.
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   2. To free from a penalty; to pardon; to remit (a sin); --
      said of the sin or guilt.
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            In his name I absolve your perjury.   --Gibbon.
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   3. To finish; to accomplish. [Obs.]
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            The work begun, how soon absolved.    --Milton.
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   4. To resolve or explain. [Obs.] "We shall not absolve the
      doubt."                                     --Sir T.
                                                  Browne.
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   Syn: To Absolve, Exonerate, Acquit.

   Usage: We speak of a man as absolved from something that
          binds his conscience, or involves the charge of
          wrongdoing; as, to absolve from allegiance or from the
          obligation of an oath, or a promise. We speak of a
          person as exonerated, when he is released from some
          burden which had rested upon him; as, to exonerate
          from suspicion, to exonerate from blame or odium. It
          implies a purely moral acquittal. We speak of a person
          as acquitted, when a decision has been made in his
          favor with reference to a specific charge, either by a
          jury or by disinterested persons; as, he was acquitted
          of all participation in the crime.
          [1913 Webster]

WordNet (r) 3.0 (2006):

absolved
    adj 1: freed from any question of guilt; "is absolved from all
           blame"; "was now clear of the charge of cowardice"; "his
           official honor is vindicated" [syn: absolved, clear,
           cleared, exculpated, exonerated, vindicated]