Meada was accused of hitting and killing 29-year-old Corey Lozano as Lozano biked home from a house-warming party in June.
Investigators say Meada first told people he hit a wild hog, but later confessed that when he saw the story on the news he thought he hit the bicyclist, but he still didn't come forward to police.
Prosecutors say there's no proof Meada knew he hit a person after changing his story several times.
Corey's father is heartbroken that Meada won't face consequences for his only son's death.
"The last couple of months have been very difficult for me, my family," said Raul Lozano, Corey's father. "There's not been a day that's gone by that I haven't cried for my son."
The Lozanos are deciding whether to file a civil suit.
They're also setting up a foundation in their son's name for baseball scholarships.
NewsChannel 5's Brian Entin contributed to this report.