The court in Lausanne, Switzerland, ruled on Friday that Russian teams must be allowed to participate in IIHF-organised events, including world championships.
CAS did not address whether Russian players could be required to compete without national symbols, as neutral athletes, or other organisational consequences.
The federation expressed disappointment, maintaining that its decisions were necessary to protect participants' safety and the integrity of competitions.
"While the IIHF respects the authority of CAS and will act in accordance with its ruling, the outcome does not remove the concerns that informed its assessments," the IIHF said in a statement.
Sports Minister and Russian Olympic Committee head Mikhail Degtyarev said on Telegram that CAS had ruled in favour of the Russian Ice Hockey Federation on key issues.
The IIHF has excluded Russian teams from world championships since Russia's full-scale invasion of Ukraine in 2022. They also did not take part in Olympic ice hockey tournaments.
The International Olympic Committee (IOC) temporarily lifted the suspension of the Russian Olympic Committee this summer.
The ruling presents a challenge for the federation's new head, Franz Reindl of Germany. Germany is due to host next year's top-division world championship.
(sp/gs)
Source: PAP