Mr Conaway said the worst the panel had found was "perhaps some bad judgment, inappropriate meetings, inappropriate judgment at taking meetings".
The Senate Intelligence Committee is also investigating the Russian intervention, and is expected to have a bipartisan report out in the coming weeks dealing with election security.
"It was a powerful decision that left no doubts", Trump said. The Democrats would have an opportunity to offer their input before the report is sent for declassification and ultimately public release, a process that could take at least a month, .
A Republican lawmaker has dismissed Trump-Russia collusion claims as a fictional "spy thriller", as his committee cleared the president.
"We've found no evidence of collusion", Representative Mike Conaway, who oversaw the drafting of the report, told reporters Monday.
In an interview with MSNBC's Rachel Maddow, Schiff said that Democrats would do their best to continue following all relevant leads without the GOP, while acknowledging that the party could revisit unresolved issues in 2019 if his party wins control of the House and with it the committee's gavel. But, he added, "We disagree with the narrative that they were trying to help Trump".
The Senate Intelligence Committee is still probing the matter. Democrats weren't interested in finding the truth and concluding the investigation.
The Republican decision to end the House Russia investigation comes as special counsel Robert Mueller's probe appears to be accelerating.
Soon after the Republican announcement on Monday evening, Trump quickly celebrated on Twitter, reports Politico news.
The witnesses includes former White House chief strategist Stephen Bannon, the president's eldest son Donald Trump Jr. and Trump's son-in-law and senior adviser Jared Kushner.
Mueller's office has been peeling off layers of Trump's campaign, bringing charges to a number of individuals who were members or associated with members of the campaign and interviewing more, including Trump's lawyers and close confidants.
Guided in part by the aggressive committee chairman, Rep. Devin Nunes, R-Calif., the investigation largely broke down in crude partisan infighting, marking a rare breach of decorum and tradition on a panel that conducts oversight of the nation's intelligence community to prevent government abuses. Schiff then regurgitated the Democrats' worn-out talking point of Russian collusion conspiracy, saying, "If the Russians do have leverage over the president of the United States, the majority has simply decided it would rather not know".
"Protecting our election system is a top concern and one I am deeply engaged in both on HPSCI, and in my work as Chair of the House Armed Services Subcommittee on Emerging Threats and Capabilities", she said.
He also said the committee would consider any significant new evidence that may emerge in the case in the future.