Gen Musharraf is under pressure to lift emergency rule |
General Musharraf's opponents had argued that his election was illegal because he was still head of the army.
Most of the challenges were rejected earlier this week.
The move clears the way for General Musharraf to stand down as army chief, as promised, and be sworn in as a civilian leader.
He is widely believed to have declared a state of emergency earlier this month in order to purge the Supreme Court that he suspected was about to rule against his re-election, says the BBC's Barbara Plett in Islamabad.
Final challenge
"Dismissed," Chief Justice Abdul Hamid Dogar said in court after hearing the petition, reports Reuters news agency.
Gen Musharraf's top legal adviser, Sharifuddin Pirzada, told Reuters there was now no legal obstacle to his re-election.
"Now the court has to give us this in writing," the agency quoted him as saying.
The verdict was expected to go in Gen Musharraf's favour since he has appointed new judges to the bench who are considered more loyal.
They have already dismissed the main petitions.
President Musharraf has still not lifted emergency rule, and insists that elections, which are due to be held in January, can take place under the emergency decree.
But Western allies have insisted he return the country to civilian rule.
Pakistan has asked the Commonwealth, whose leaders are meeting in Uganda, to delay its decision on whether the country should be suspended. The decision was provisionally expected on Thursday.
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