Karabegovic had pleaded not guilty to contemplating a terrorist act and his defence lawyer told jurors there was no supporting evidence.
“It’s not a crime to have [Inspire], to read it and to talk about it, it’s not a crime to be interested in it,” Julian McMahon said.
“It’s a crime to use it in connection with preparing a terrorist act.”
The federal and Victoria police joint counter-terrorism team put Karabegovic under surveillance in 2012 due to his attendance at the now defunct Al Furqan Islamic Centre in Springvale.
Karabegovic was arrested during counter-terrorism raids across Melbourne’s south-east later that year.
Prosecutors used covert recordings to try and prove the man, from Officer, had spoken to his brother about information in the magazine on how to make petrol bombs to start bushfires.
The jury took less than four hours to find Karabegovic not guilty.