Chile defender Gonzalo Jara's ban for provoking Edinson Cavani has been cut from three games to two.
"After hearing the appeal CONMEBOL decided to reduce the sanction. . . to two games," the organisation explained in a statement.
The player's fine was also reduced from $7,500 to $5,000.
Jara received his ban for "unsporting behaviour" after he stuck his finger up Cavani's backside during Chile's quarter-final win over Uruguay last week.
Cavani responded to the provocation with the slightest of touches and Jara fell to the ground theatrically, prompting the referee to send off the Uruguayan.
Chile scored the only goal of the game soon afterwards.
A second Uruguayan was shown a red card two minutes before the final whistle, leading to scuffles between players and officials from both sides.
Meanwhile, Guus Hiddink has quit as coach of the Netherlands after less than one year in the job.
The 68-year-old hands over to his assistant Danny Blind with the Dutch third in their Euro 2016 qualifying group, facing the possibility of a play-off tie to win a place at next year's championship in France.
Hiddink, in his second spell as national coach, has overseen a series of mediocre results and been heavily criticised since taking over from Louis van Gaal last August.
Ireland's Stephen Quinn is set to join Reading on a free transfer from relegated Hull.
Aaron Cresswell has extended his stay at West Ham by signing a new five-year contract with the east London club. The 25-year-old left-back joined the Hammers from Ipswich Town last summer and played every minute of their Premier League campaign during 2014/15.