The Bulgaria winger - on loan at Parkhead from Aston Villa - was sanctioned by the Scottish Football Association (SFA) on Thursday for allegedly racially abusing Aberdeen defender Shay Logan on his Celtic debut in September.
Tonev has strongly denied the accusations, but was found guilty by the SFA and suspended last week.
He has been backed by the Bulgarian Football Union since, who claimed there was "no evidence of his guilt".
The appeal means Tonev is free to return to action, pending the outcome, and in a twist of fate is now available for Celtic's trip to Aberdeen this Sunday.
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