Head Neil Vasey said: "I am delighted with the result. It is a reflection of the hard work the team put in before and during special measures."
The school went into special measures in February 2002.
Mr Vasey said: "We could do with this boost - going through special measures is tough."
Even so, he believes the school has benefited from inspections by the Office for Standards in Education and the local authority.
The school went into special measures because 19 per cent of teaching was deemed unsatisfactory, leadership and management was judged to be poor and attendance was unsatisfactory.
"We already had an improvement plan in place before Ofsted," Mr Vasey said.
Vauxhall primary school in Lambeth, south London, was in special measures for two years, but was judged no longer to be failing in October this year.
The school was ranked third on the value-added KS2 league table.
The school's chair of governors Stephen Hoare said: "The results were not a surprise. On his previous three visits the HMI inspector had seen the results improving.
"The school was put in special measures because standards were too low in English, maths, science and ICT.
"The quality of teaching was unsatisfactory overall, and leadership and management was poor.
"Special measures was well called for. The school felt sorry for itself, the staff were demoralised and there wasn't much teaching and learning going on.
"The transitional support grant helped us to employ a maths and literacy co-ordinator and a special needs co-ordinator.
"It is the staff who really pulled this together. Everyone put in 150 per cent to get where we are now."