Lennon was sent to the stand by referee Craig Thomson at Tynecastle back in November after a bust-up with fourth official Steven McLean, and on top of the automatic two-match ban he was further punished in January by the SFA with an additional four games for "excessive misconduct".
However, following a hearing with the SFA's Appeals Board at Hampden on Thursday night, a new sanction of an automatic two-game suspension and an additional two matches was imposed.
A Celtic spokesperson told the club's official website: "Clearly, we are pleased that the Appeals Board has decided to set aside the SFA's original decision in its entirety.
"We are awaiting the reasons for this in writing and will make further comment on this issue when this has been received.
"The new sanction imposed by the Appeals Board is accepted."
The first game of the new sanction will be this Saturday's SPL match at Celtic Park against Hamilton.
