Giuly was dismissed a fortnight ago for slapping Mateja Kezman after reacting to the Serbo-Montenegrin putting his hand in the Frenchman's face.
The Monaco schemer had feared a four-game suspension which would have ruled him out of the knockout stages.
But Uefa have decided Giuly only needs to serve a one-match ban for his actions and he will now miss the final group game against AEK Athens on Wednesday.
Giuly admits he is fortunate to have received such leniency from the Uefa disciplinary committee and is overjoyed he will be available for the later stages of the competition.
"That is really great!" beamed Giuly on learning the news.
"I thank the club for defending me so well.
"It was just a rebellion gesture and I will be able to play in the next round of the Champions League when I was expecting a four-match ban.
"I was lucky to escape a long ban which is the most beautiful present I could get."
