The ruling means that last season's Turkish League runners-up Trabzonspor, who were re-instated as Fenerbahace's replacements after earlier losing in the third qualifying round to Benfica, will remain in the competition. Their first match is against 2010 European champions Inter Milan on Wednesday.
More than 30 players and officials have been jailed pending trial, including Fenerbahce chairman Aziz Yildirim, over alleged manipulation in 19 matches.
"The Court of Arbitration for Sport has dismissed an urgent request for provisional measures filed by Fenerbahce SK following a decision of the Turkish Football Federation to withdraw the club from the UEFA Champions League," CAS said.
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