The 47-year-old was handed the sanction on Tuesday following an altercation with match officials after Sunday's 1-1 draw with Sampdoria.
Juve swiftly lodged an appeal against the suspension, which would have seen their coach absent from the touchline for Thursday's Serie A clash with Cagliari.
And it was confirmed on Wednesday that Allegri's appeal had been partially upheld.
The former Milan coach will now pay a fine of €10,000, but will be on the Juve bench at Stadio Sant'Elia on Tuesday.
Allegri has been warned as to his future conduct by the Italian Football Federation's appeals court.
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