Patrick Kisnorbo will be available to play against Colchester on Saturday after the Football Association upheld Leicester's appeal.
The Australian defender was sent off after only ten minutes of the 3-0 defeat to Sheffield United at the weekend, following an innocuous-looking tangle with Blades striker Billy Sharp.
Foxes manager Ian Holloway was furious with referee Mike Pert and decided to contest the decision.
The FA's disciplinary committee met to discuss the matter on Tuesday afternoon and ruled in favour of Leicester.
Kisnorbo's eligibility for the clash with Colchester will be a major boost as Leicester continue their battle against relegation.
Holloway's side have been unable to find any consistency this season and are currently just one point above the bottom three.