The Court of Arbitration for Sport has dismissed Metalist Kharkiv's appeal to overturn their suspension from European competition this season.
On Wednesday, governing body UEFA banned the Ukranian outfit, who were scheduled to play Schalke in a Champions League play-off next week, from its competitions following a match-fixing inquiry.
Metalist immediately appealed the decision and asked CAS to suspend the sanction and reinstate them into European competition in 2013/14.
However, CAS has rejected the appeal and UEFA's decision to replace Metalist with Greek club PAOK Thessaloniki for the Champions League clash with Schalke will stand.
"The Court of Arbitration for Sport (CAS) has considered the urgent request for provisional measures filed by FC Metalist Kharkiv against the decision taken by the UEFA Appeals Body on 14 August 2013," said a statement on CAS' official website.
"In such decision, FC Metalist Kharkiv was disqualified from the 2013/2014 UEFA competitions. FC Metalist Kharkiv was then replaced by PAOK FC.
"On the same day it received the UEFA decision, the club filed an urgent request for provisional measures at the CAS, requesting a stay of the challenged decision and its reinstatement to the 2013/2014 UEFA competitions.
"On 15 August 2013, UEFA and PAOK FC each filed a written submission in response to the club's request for provisional measures. After having considered the parties' submissions, the Deputy President of the Appeals Arbitration Division decided to dismiss FC Metalist's request.
"Consequently, the UEFA decision remains in force, which means that FC Metalist Kharkiv is excluded from the 2013/2014 UEFA competitions."
UEFA charged Metalist last week after CAS upheld a five-year ban imposed on the club's sporting director Yevhen Krasnikov by the Ukrainian Football Federation.
Krasnikov was allegedly involved in the fixing of a Ukrainian league match with Karpaty Lwiw in 2008.