Saad was suspended for 18 months at the end of last season after testing positive for a banned substance contained in an energy drink he consumed before a game in 2013.
Delisted by St Kilda in November last year, Saad will now be eligible to potentially resume his AFL career in 2015.
In a statement released by his management company Blue Rock Sports, Saad said the decision was a great relief.
"I am relieved that this is all over, it has been a very long and hard 10 months on myself and everyone around me," Saad said.
"I’ll continue training hard to give myself the best opportunity to come back next season."
Saad, 24, played 29 games for the Saints after making his debut in 2012. He kicked 45 goals as a small forward, and earned fame for his time-consuming set shot kicking routine.
Saad's manager Paul Koutoufides said the player was a resilient character and hoped to get another chance in the AFL.
