The court of arbitration for sport (CAS) said it was granting a request by the west London club to 'stay' the punishment.
Under the Fifa ruling, from its dispute resolution chamber issued in August, the Blues were effectively banned from registering any new players domestically or internationally until January 2011.
The ban related to the signing of French 18-year-old Gael Kakuta, who Racing Club de Lens said had been induced to break his contract with them and sign for Chelsea.
In a statement released on Friday morning, CAS said: 'The court of arbitration for sport has granted the request for a stay filed by Chelsea Football Club Ltd and Mr Gael Kakuta in relation to the decision taken by the Fifa dispute resolution chamber on August 27th 2009.
'Such sanctions are now stayed until the CAS renders its final decision in this matter.'
Now the ban has been suspended, Chelsea are likely to be able to add to their squad in the next transfer window in the new year, regardless of the outcome of the appeal.
A statement on the Chelsea website said: 'In light of numerous media enquiries, Chelsea can confirm that the court of arbitration for sport has informed us that it has agreed to a stay of the two-window transfer ban and the playing ban on Gael Kakuta imposed by Fifa's dispute resolution chamber until the appeal has been heard and completed.
'There will be no further comment.'
Carlo Ancelotti's side, who host Manchester United on Sunday, currently top the Premier League table with 27 points from 11 games.
Under the Fifa ruling, from its dispute resolution chamber issued in August, the Blues were effectively banned from registering any new players domestically or internationally until January 2011.
The ban related to the signing of French 18-year-old Gael Kakuta, who Racing Club de Lens said had been induced to break his contract with them and sign for Chelsea.
In a statement released on Friday morning, CAS said: 'The court of arbitration for sport has granted the request for a stay filed by Chelsea Football Club Ltd and Mr Gael Kakuta in relation to the decision taken by the Fifa dispute resolution chamber on August 27th 2009.
'Such sanctions are now stayed until the CAS renders its final decision in this matter.'
Now the ban has been suspended, Chelsea are likely to be able to add to their squad in the next transfer window in the new year, regardless of the outcome of the appeal.
A statement on the Chelsea website said: 'In light of numerous media enquiries, Chelsea can confirm that the court of arbitration for sport has informed us that it has agreed to a stay of the two-window transfer ban and the playing ban on Gael Kakuta imposed by Fifa's dispute resolution chamber until the appeal has been heard and completed.
'There will be no further comment.'
Carlo Ancelotti's side, who host Manchester United on Sunday, currently top the Premier League table with 27 points from 11 games.
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