Routledge was given his marching orders for his reaction to a poor challenge from Rangers midfielder Karl Kenry four minutes from time against his former club.
Swansea manager Garry Monk said after the 1-1 draw that he hopes "sense prevails" and the FA overturns the decision, which left Routledge facing a three-match ban.
A statement on the FA website said: "Following an Independent Regulatory Commission hearing on Friday 2 January 2015, Swansea City's Wayne Routledge has had his claim for wrongful dismissal upheld.
"Routledge was dismissed during his side's 1-1 draw against Queens Park Rangers on New Year's Day for violent conduct.
"The three-match suspension has therefore been withdrawn with immediate effect."
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