The Spain midfielder was sent off in Monday's 3-0 defeat at West Brom after kicking the ball against Chris Brunt's head during a break in play.
He will now only miss Sunday's final Barclays Premier League game against Sunderland, when champions Chelsea will lift the Barclays Premier League trophy
A statement from Chelsea read: "The standard sanction would have been a three-match suspension.
"However, following an Independent Regulatory Commission hearing earlier today, the club's claim that a three-match suspension is excessive was successful.
"Fabregas will therefore now only miss our final game of the season against Sunderland on Sunday and will be available for selection from the start of the 2015/16 campaign."
Fabregas was dismissed in the first half of Chelsea's defeat at The Hawthorns after hitting Brunt on the head from 20 yards while referee Mike Jones spoke to Gareth McAuley and Diego Costa after they grappled in the area.
A statement from the Football Association read: "A claim by Chelsea that the three-match suspension for Cesc Fabregas is excessive has been upheld by an Independent Regulatory Commission hearing.
"Fabregas was dismissed for violent conduct during the West Bromwich Albion FC v Chelsea FC fixture on 18 May
The Regulatory Commission has reduced the Chelsea midfielder's suspension to one match, to be served with immediate effect."
Source : PA
Source: PA