The Premier League is back and the Toffees are in the midst of a relegation battle, so can ill-afford to be without their star striker.
In truth, it was never a red card, with Palace's Joachim Andersen even appearing to tell Calvert-Lewin that was the case after the striker caught Nathaniel Clyne.
It was an unfortunate situation, but it hasn't cost Everton too badly.
Is Calvert-Lewin banned for the weekend?
Everton welcome Aston Villa to Goodison Park this Sunday for a massive Premier League clash.
And the Toffees will be able to call upon Calvert-Lewin after the FA have rescinded his red card after a review.
Read more on Premier League
Chelsea could break British transfer record again with another Brighton deal
Arsenal wanted to sign me but Newcastle money was too tempting - I was naive over transfer
In a statement, the FA said: "Dominic Calvert-Lewin will be available for Everton's next three games following a successful claim of wrongful dismissal.
"The striker was sent off for serious foul play in the Emirates FA Cup game against Crystal Palace on Thursday, January 4 2024."
Calvert-Lewin can lead the line against Villa and will hope to break his goal drought, which currently stands at 12 games in all competitions.
However, despite the sending off being rescinded, there were reports it would stay on the striker's record.
Most read in FA Cup
Spurs vs Man City, Man United, Liverpool and Maidstone selected for TV broadcast in FA Cup
FA under fire from colour blindness campaigners for kit clash in Sunderland vs Newcastle
Everton handed boost as controversial Dominic Calvert-Lewin red card is overturned
Roy Keane identifies where Marcus Rashford is going wrong in cutting analysis
So, should he receive another red card this season, he would serve an extra one-match ban.
The unusual situation has left former Scotland striker Alan Brazil baffled.
Speaking on talkSPORT Breakfast, he said: "For me, that's bonkers, absolute nonsense."
Gabby Agbonlahor agreed with his co-host, saying: "That doesn't make sense because if they've rescinded the red card, then it's off the record."