"The Federal Court of Justice has partially upheld an appeal by Milan and reduces the matches Mario Balotelli is banned for by three to two games, adding a fine of 20,000 euros in exchange for the third match," the Italian Football Federation (FIGC) said on its website on Friday.
The Italian international was suspended after picking up his fourth booking of the season for aiming an insult at referee Paolo Tagliavento in the 2-2 draw at Fiorentina two weeks ago.
Balotelli went to the FIGC's headquarters in Rome with a member of Milan's legal team and had hoped to be given the go- ahead to play against league leaders Juve.
He will now return for next week's home match against Catania.
Balotelli has scored seven goals in eight league appearances since leaving Manchester City in January for Milan who are third in Serie A on 59 points, 15 behind Juve.
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