The Portugal international will miss three matches following his dismissal at the weekend, but will be available for Wednesday's Copa del Rey game against Atletico Madrid
The Portugal international - who celebrates his 29th birthday on Wednesday - received his marching orders in the 76th minute of Sunday's Primera Division encounter after an altercation with Athletic's Ander Iturraspe and Carlos Gurpegui.
Ronaldo consequently risked a suspension that could cover anything from one game to in excess of three and the RFEF has now opted to keep him out of action for three matches.
The forward was slapped with a one-game ban for the incident with Iturraspe, while getting an additional two games for his offensive gesture after his dismissal.
He will miss the Liga games at home against Villarreal (February 9) and Elche (February 23) as well as the away match at Getafe (February 16).
However, Ronaldo will be available for both legs of the Copa del Rey semi-final tie against Atletico Madrid, with the first leg taking place at the Santiago Bernabeu on Wednesday.