The Spanish Football Federation's Appeals Committee ruled that the former England captain had been within his rights to ask for a defensive wall to be moved further back before he took a free kick and should not have been booked for time wasting.
Beckham, who turned 32 on Wednesday, has just six more chances to play for Real Madrid before leaving the club for MLS side LA Galaxy at the end of the season.
It is not the first time the midfielder has received a reprieve after initially being banned for picking up a fifth yellow card.
Last season his red card given for clapping the referee against Valencia was overturned after the Appeals Committee adjudged it was not "sarcastic" and played the next match against Deportivo Coruna.
Real are in third place in the Primera Liga, one point behind second-placed Sevilla who are one point behind leaders Barcelona.