The midfielder was handed a four-month FIFA ban and a $1.9million fine in November after an alleged illegal transfer from Al Nasr to Al Gharafa, and faced the prospect of missing out on the tournament.
However, while having his application for a stay or proceedings rejected, meaning his four-month suspension will stand, the CAS took into account his personal aspirations and granted him permission to compete in Brazil.
"Mark is free to play for Australia at the World Cup if selected,'' FIFPro vice-president Brendan Schwab is quoted as saying by the Herald Sun. "The CAS has given careful regard to Mark's interests and in part his desire to play at the World Cup.
"It's decided that his interests are better protected by the stay not being granted and him serving his suspension, as if he were to lose the final decision in March or April then he would be suspended for the World Cup.
"In deciding to appeal, Mark had to take into account the interests of the club and the Socceroos as well as his own. And I expect that the club and Mark will continue the appeal as a matter of principle.
"Having decided that Mark won't suffer irreparable harm by not being granted the stay, the CAS did not consider the question of whether Mark is likely to succeed with his appeal at the final hearing, so this decision is not an indicator of the final outcome.''
Bresciano remains allowed to compete in friendlies for both Al Gharafa and Australia until his ban expires on March 13.