The suspension for Davis' hit on Green Bay's Davonta Adams was initially two games.
Davis' appeal was heard by James Thrash, a third party jointly appointed by the league and the NFL Players Association.
The incident took place during the third quarter of Carolina's 31-24 victory over Green Bay on Sunday. Davis drilled Adams with an illegal blindside hit with helmet-to-helmet contact, and he was flagged for unnecessary roughness. The hit gave Adams a concussion and he did not return to the game after the incident.
Davis appeared to regret the hit immediately and apologized for his actions after the game.
"I understand your frustration and I do apologize for the hit!" Davis tweeted on Monday morning. "In no way was I trying to hurt you. My first instinct was turn and make a block. In all sincerity I do apologize. I truly respect you as a player and I made a mistake!"
The frustration Davis is addressing refers to Adams' tweets after the contest, in which Adams accused Davis of "head hunting."
I’ll never understand it. Game is already dangerous enough and we got Pro Bowl players out here head hunting and saying they “didn’t mean to harm me”— Davante Adams (@tae15adams) December 18, 2017
Davis has been fined once before this season for an illegal hit when the Panthers played the Bears.
"You have been previously fined for violations of safety-related rules," NFL vice president of football operations Jon Runyan said in a letter to Davis, per ESPN. "Your actions yesterday warrant an escalation of discipline, not only because they were flagrant, but also because of your status as a repeat offender."
The Panthers' victory on Sunday improved their record to 10-4 and keeps them in the NFC's first Wild Card spot. Davis will miss next weeks game against the Buccaneers, but he will be eligible to return for a crucial matchup with the Falcons in Week 17.