Tripolis were demoted to Greece's second tier on September 30 after being found guilty of bribery by the Super League's disciplinary court while president Giorgos Borovilos received a three-year ban and the club were fined 300,000 euros.
But on Tuesday, the EPO's appeals committee announced that Tripolis and Borovilos had been acquitted of all charges due to insufficient evidence.
Tripolis had taken two points from their opening four matches.
The news comes as another twist in the chaotic start to the Greek season which is still reeling from the aftermath of a match-fixing scandal which erupted in June.
Two places in the 16-team Super League are still to be filled with four rounds of matches already played, while the second division is yet to kick off due to several pending legal cases.
Olympiakos Volos and Kavala were both demoted to Greece's second tier in July for their involvement in match-fixing.
Former Portugal and English Premier League player Luis Boa Morte, who signed for Larissa in the close-season, is yet to kick a ball as his club remains in limbo.
Larissa were relegated last season but are battling in the sports courts to get reinstated in place of Volos or Kavala. Their case, along with that of Panserraikos, is expected to conclude next week.
"I have come from England to play football, but I have never seen a thing like this in my career," Boa Morte told NovasportFM radio.
"It has probably never happened before anywhere that in mid-October a team does not know in which league it will be playing."
