LIL BOOSIE FOUND NOT GUILTY OF MURDER!

Rapper Lil Boosie has been found not guilty of first degree murder ... stemming from the shooting death of a 35-year-old man back in 2009.

Boosie was accused of ordering a hit on the victim ... but after the jury deliberated for roughly 90 minutes, they decided Boosie was not guilty.

Boosie -- who was tried in Baton Rouge, LA -- could have faced life in prison if convicted.

During the case, prosecutors tried to argue that lyrics in one of Boosie's raps proved his role in the murder ... but clearly, the jury didn't buy the argument.

Still, Boosie will not be a free man anytime soon -- he's currently serving an 8-year prison sentence stemming from drug charges. SOURCE