The accusation against the Prince was levelled by the model in 2008 that he lured her to the 384ft yacht Turama after her drink was spiked in a nightclub.
The charges have however, been rubbished by the legal counsel, Horacio Oliva.
In a statement issued, it said that the Prince was on a visit to France in Aug 2008 and his passport, mobile phone records, photographs, hotel receipts video and eyewitness accounts also proved his innocence. The statement also said that the prince has not been in Ibiza for more than a decade.
Reports reveal that the model had filed for the complaint in Ibiza in Aug of 2008, but it was deferred following unsubstantial evidence to support the case.
Prince Alwaleed Bin Talal is the nephew of Saudi King Abdullah.