The unanimous decision by the Independent Review Panel means Larin can play Sunday against fellow expansion side New York City FC at Yankee Stadium.
Larin was sent off in the 31st minute of Saturday's 2-0 loss to the New York Red Bulls. Referee Fotis Bazokos issued the red for a challenge on Sacha Kljestan.
The Red Bull player went down on Larin's sliding tackle but replays seemed to suggest the contact was minimal. New York was up 1-0 at the time.
It marked the sixth time this season — and third game in a row — that Orlando has been forced to play a man short.
Orlando coach Adrian Heath, who was dismissed later in the Red Bulls match, was fined an undisclosed amount by the MLS disciplinary committee for approaching match officials at halftime. The dismissal carries a mandatory one-game suspension and undisclosed fine.
The independent review panel consists of one representative from the U.S. Soccer Federation, Canadian Soccer Association and Professional Referees Organization.