Two male New York City Ballet dancers who were fired for allegedly trading explicit photos of ballerinas should be given their jobs back, an arbitrator ruled Friday.

Zachary Catazaro and Amar Ramasar were booted from the company in September after student-dancer Alexandra Waterbury filed a lawsuit against the company and her ex-boyfriend dancer Chase Finlay.

She claims that Finlay started an explicit photo exchange of ballerinas — at one point even telling the other male dancers, “I bet we could tie some of them up and abuse them … like farm animals,” the suit says.

Catazaro, 29, and Ramasar, 37, were not named as defendants in the lawsuit.

Their union protested their firing, prompting the arbitration.

Catazaro — who worked with the ballet company for more than 10 years — said Friday that although he feels “vindicated,” he wouldn’t be taking his job back.

He is currently working with a dance company in Munich, Germany.

“I am grateful and relieved that the arbitrator has found the New York City Ballet’s abrupt termination of my contract to be wrongful and unjust,” Catazaro said in a statement. “After considering the situation I have decided to respectfully decline my reinstatement, and I will not be returning to NYCB.”

Ramasar said in a statement that he would be returning to work at the New York City Ballet.

“I am beyond gratified to have been awarded through the arbitration process, immediate reinstatement as Principal Dancer with the New York City Ballet,” he said.

“As I move forward, learning, and evolving, I am eager to once again dance amongst the colleagues I respect, doing the ballets I have held close to my heart for the past 18 years.

“My deepest apologies and thanks to Alexa Maxwell for her understanding and support.”

The American Guild of Musical Artists — which fronted the legal bill for the pair — said in a statement, “This was a complicated situation. We pursued this case because it’s important to us that your employer is prevented from taking extreme and potentially career-ending action based on non-criminal activity in your private life.”

Waterbury’s lawsuit claimed that Finlay, 28, sent to someone a naked photo of her captioned, “You have any pictures of girls you’ve f—ked? I’ll send you some [hot] ballerina girls I’ve made scream.”

Finlay — who resigned from NYCB — allegedly then sent secretly recorded video clips and photos of his sexual encounters with the women to a group of men including Ramasar, who reportedly sent back a photo of a dancer’s breast, the suit charged.

Catazaro also allegedly exchanged lewd pictures with Finlay, the suit claimed.

NYCB did not return a request for comment Friday.