The report praises security forces for showing restraint during a traditional celebration on 2 October last year when dozens died following a stampede.
It however recommends prosecution of some individual police officers for their actions, the following day, when dozens are believed to have been shot dead.
Earlier, Ethiopia's Prime Minister Hailemariam Desalegn had for the first time rejected calls by the UN and EU for independent investigations into the deaths saying the country was able to carry out the investigations itself.
Mr Hailemariam told the BBC's Emmanuel Igunza that an investigation by the Human Rights Commission, a body created by the constitution, was the only way of dealing with the issue.
He said that the commission was an independent institution but admitted that it "lacked capacity" and said that it could be strengthened.
He added that Ethiopia's sovereignty should be respected and rejected the call for external investigations.
Zeid Raad Al Hussein, the UN High Commissioner for Human Rights, last year called for international observers to investigate the killings after accusing security forces of using live ammunition against protesters in the Amhara and Oromia regions.
A call that was reiterated by the EU in October and repeated last week.