However, the Socceroos' top goal scorer will miss Saturday's match against Ghana which they must at least draw to leave a realistic chance of remaining in the tournament.
Australia were beaten 4-0 by Germany, with Cahill sent off for a foul on Bastian Schweinsteiger early in the second half.
The one-match suspension was the minimum punishment that FIFA could have imposed on the player.
Germany and Ghana have three points each after first match wins, while Australia and Serbia have none, meaning the Socceroos need at least a draw to keep their hopes alive of advancing to the knock-out stages, particularly if Germany beat Serbia as expected.
Cahill's absence could see Harry Kewell, returning from a long-standing groin injury, in the starting line-up to help press for goals.
