Khalid Baker was found guilty of murder in 2008, after a jury found he pushed Albert Snowball through a window to his death during a fight at a Brunswick warehouse party three years prior.
He spent 13 years in prison and was released in 2018.
Baker applied to Victoria's Court of Appeal to overturn his murder conviction, arguing fresh and compelling evidence from his co-accused proved he did not commit the crime.
LM, who cannot be named for legal reasons, told the court last month he did not see the Melbourne boxer near the 2005 party brawl and said he pushed Mr Snowball before he fell through the window.
"I don't have a memory of Khalid Baker being on the landing when I had the altercation with Mr Snowball," LM said.
However, three justices rejected Baker's appeal on Wednesday after finding LM's evidence, while fresh, was not compelling.
"We do not consider any facet of the fresh evidence to be compelling. It is not reliable, substantial or highly probative of the principal disputed issue at trial,"Â Justices Karin Emerton, Geoffrey Priest and Richard Niall said in their written reasons.
"We are also unable to see that the evidence could eliminate or substantially weaken the prosecution case."
Following the decision, Baker's lawyer told AAP he has requested she seek leave to appeal to the High Court.
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