Sandro Tonali will be free to play from August 27, as his original betting ban imposed last year ruled.
The Newcastle midfielder has been handed a suspended two-month ban and has been fined £20,000 after admitting to betting breaches since joining Newcastle. He has also been warned about his future conduct by the FA.
In March, Tonali was charged by the FA with 50 new breaches of betting on football matches after joining Newcastle.
He has admitted to placing those bets, four of which were on Newcastle to win.
Tonali has already been serving the 10-month ban for illegal betting imposed by the Italian FA last October.
Sandro Tonali will be free to play from August 27, as his original betting ban from last year ruled
Tonali was hit with a 10-month worldwide ban by the Italian FA last year for illegal betting
In March, Tonali was charged with 50 new breaches by the FA but has been handed a suspended two-month sentence
On top of that, he was ordered to pay around £17,000 and take part in eight months of therapy.
The Italian, who joined the Magpies for £52million from AC Milan in July, was given his worldwide ban by Italian authorities in October.
The Football Association then launched their own investigation and in March charged Tonali, 23, with misconduct in relation to 50 bets on games between August 12 and October 12 2023.
Initial reports last year had suggested that Tonali was at risk of a 12-month ban after claims he had bet on AC Milan matches while on their books.
However, his admission of guilt and willingness to seek treatment for what his agent calls a 'gambling addiction' is believed to have helped him reduce the ban. It is also said he did not bet on Milan to lose matches.
Tonali is following an eight-month therapeutic programme with Newcastle as well as an educational course.
His ban until August 27 means he is ruled out of Euro 2024 as well as the opening games of the 2024-25 season.
A statement published by Newcastle read: 'As acknowledged by the FA in the independent Regulatory Commission's written reasons, the level of assistance Sandro has provided by self-referring and fully cooperating with a subsequent investigation is extraordinary and unprecedented.
Tonali will miss Euro 2024 with Italy and the opening games of next season due to his worldwide ban
'Sandro made full admissions as to his betting activity, and did so in circumstances where there was no other evidence to support misconduct proceedings.'
Last October, Tonali's agent admitted that his client was battling a gambling addiction.
He had a stunning start at Newcastle, becoming their quickest Premier League debut goalscorer as he scored six minutes into a 5-1 demolition of Aston Villa on the opening day of the season.
He was finding things difficult by September, however.
'This summer has been hard and I've had a difficult start. At the beginning it was not easy to find my place, but I have found people to support me and to help me and I started to be happier,' he said at the time.
'Mr Howe and my team-mates have been great. They are helping me in my personal and professional life.
'They have helped me settle. The language at the beginning was very, very difficult for me, communicating with the guys I found extremely tough, but it is getting easier and I'm very happy. It is getting easier.'
More to follow.