Mitchell Pearce has been banned for eight weeks and fined $125,000 for his Australia Day misbehaviour.
The Roosters reached an agreement with the NRL integrity unit this morning after 48 hours of negotiations.
It is understood $50,000 of the $125,000 fine has been suspended.
Pearce will make his comeback against the Knights at Allianz Stadium on Saturday April 30.
He will resume training with the Roosters on Monday.
The ban follows the release of the now infamous Australia video which showed a drunk Pearce simulating sex with a dog.
Pearce left the country in the days following the video's release after publicly saying he had a problem with alcohol.
He spent weeks in a Thai rehabilitation clinic before returning to Australia on Sunday.
Roosters chairman Nick Politis as well as club CEO John Lee met with the NRL yesterday in a bid to discuss Pearce's proposed punishment.
The meeting reportedly got heated at times, with the Roosters pushing for just a three or four week suspension given Pearce's absence from the World Club Challenge and Auckland Nines.
The NRL was believed to be seeking a 10-12 week suspension.
The now-decided eight-week suspension and $125,000 fine joins Pearce's sacking as Roosters co-captain.
Pearce has spent much of this week doing interviews in which he revealed his humiliation over the video.
He acknowledged in each interview how he had let his family, friends and club down and that he had plenty of work to do to repair that damage.