Everton were sanctioned by an independent commission on November 17 after being found to have exceeded permitted losses by £19.5m over an assessment period ending with the 2021-22 season.
The club appealed the decision with the hearing taking place over three days, which concluded at the start of February.
Everton will now be on 25 points which moves them up to 15th and five points above the bottom three.
“We understand the appeal board considered the 10-point deduction originally imposed to be inappropriate when assessed against the available benchmarks of which the club made the commission aware, including the position under the relevant EFL regulations, and the nine-point deduction that is imposed under the Premier League’s own rules in the event of insolvency.
