The decision is a victory for the site, which was ordered to shut down in 2022, accused of "violating restrictions on foreign ownership in the media".
The site continued, according to its founder Maria Ressa, with its operations, but the court decision is still seen as a win for Rappler.
Nobel laureate Maria Ressa is an outspoken critic of the country's former president Rodrigo Duterte's controversial war on drugs, where thousands of people have been killed. Observers believe that Ressa's criticism sparked attacks and criminal charges against the news site.
Last January, Ressa and Rappler were acquitted of tax evasion charges. Ressa has fought a number of legal battles regarding allegations that media activists believe were directed against her due to the criticism she expressed against Duterte.
Together with Russian journalist and press freedom activist Dmitrij Muratov, Maria Ressa received the Nobel Peace Prize in 2021.