The former Nottingham Forest man was originally suspended for two games for his sending off in the vicious match - which subsequently saw Ajax's Zlatan Ibrahimovic and Christian Chivu banned for incidents not spotted by the referee.
Van Hooijdonk appealed against his ban, and the commission upheld his protest to throw out the suspension.
The decision will come as a major boon to Feyenoord who go into the final four games of the season just one point behind second placed Ajax with a Champions League place at stake for the club that gets the upper hand.
