The former European giants, who have qualified for the Europa League next season, will not be excluded from continental competition, although that could change depending on the verdict.
"The suspension of the proceedings will remain in place until after the issuance of the award in the ongoing CAS case," UEFA said in a statement.
"The UEFA Club Financial Control Body (CFCB) Adjudicatory Chamber has issued a procedural order suspending the proceedings against AC Milan regarding its failure to comply with the break-even requirement during the current monitoring period assessed in the 2018/19 season and covering the reporting periods ending in 2016, 2017 and 2018."
Faced with mounting debts and threatened with UEFA sanctions for breaking financial regulations, AC Milan are adopting spending curbs.
Coach Gennaro Gattuso stepped down last week after the club failed to qualify for the Champions League, finishing one point behind Inter Milan in the battle for the fourth and final qualifying spot.