The former Real and France midfielder was sanctioned by the Spanish football federation (RFEF) for allegedly acting as head coach of third-tier Real Madrid Castilla even while Santiago Sanchez, who was also banned for three months, nominally held the post.
Real expressed their "absolute disagreement with the decision", arguing Zidane had been awarded the necessary licence by the French football federation (FFF), and said they would "pursue every available legal avenue" to get it overturned.
Spain's Administrative Court for Sport (TAD) on Friday granted a "precautionary suspension" of the ban, Real said on their website (www.realmadrid.com).
Sanchez and Zidane would be able "to carry out their professional activities until Real Madrid's appeal...is resolved," they added.
Castilla were relegated from the second division last season, before Zidane joined the coaching staff. They are currently 14th in Group 2 of the regional four-group "Segunda B", or third tier.