Bellingham was sent off at the end of Real's defeat to Barcelona for aggressively confronting match officials.
In his report, match official Ricardo de Burgos Bengoetxea stated Bellingham, "...headed towards our position in aggressive attitude, having to be held by his teammates..."
However, video evidence brought into question De Burgos Bengoetxea's version of events and saw the Competition Committee overturn his red card.
Their ruling read: "The images provided prove a different reality from that reported... since there is neither proximity to the referee, nor is there an aggressive attitude, nor can it be seen that his colleagues subjected him to avoid aggressive action directed at the referee, which is what the minutes explicitly indicate, in which nothing else is reflected.
"In merit of all of the above, it is appropriate to estimate the allegations of Real Madrid and consequently resolve to leave without disciplinary effect the warning shown at the end of the match to player D. Jude Victor William Bellingham."
The decision sees Bellingham avoid a two-match ban.