The CPS said there was "insufficient evidence to provide a realistic prospect of a conviction against the arresting officers".
One officer, Paul White, will face trial for perjury over the evidence he gave at Mr Rigg's inquest.
Mr Rigg died at Brixton police station in 2008.
The inquest into his death in 2012 found police used "unsuitable" force when they arrested Mr Rigg.
In a statement, the Metropolitan Police Service said it "welcomes today's decision" and "would again like to emphasis its sympathy to Mr Rigg's family".
But Marcia Rigg, Sean Rigg's sister, said she "had hoped for an opportunity to get justice".
The family's solicitor Daniel Machover said the family would "urgently consider reviewing" the decision under the Victims' Right of Review scheme.
"There are some serious concerns about the legal basis of the CPS decision today," he said.
The Crown Prosecution Service (CPS) has said it will not prosecute five police officers over the death in custody of Sean Rigg in 2008.