Warner was handed the punishment, which meant he was unable to hold any leadership roles in Australian cricket, after being found to have been the instigator of the 2018 ball-tampering scandal.
Cricket Australia requested a review into its code of conduct - which previously stated players could not challenge a sanction once it had been accepted - and the recommendations have had formal approval.
"Under the changes, players and support staff can now apply to have long-term sanctions modified," a Cricket Australia statement said.
"Any applications will be considered by a three-person review panel, comprising independent code of conduct commissioners, which must be satisfied that exceptional circumstances exist to justify modifying a sanction.
"These circumstances and considerations will include whether the subject of the sanction has demonstrated genuine remorse; the subject's conduct and behaviour since the imposition of the sanction; whether rehabilitation programs have been completed undertaken (if applicable) and the length of time that has passed since the sanction was imposed and whether sufficient time has passed to allow for reform or rehabilitation.
"The code of conduct states this process: 'Acknowledges that players and player support personnel are capable of genuine reform or rehabilitation and is intended to provide the player or player support personnel with an opportunity to resume their previously held positions or responsibilities in specific circumstances'.
"The hearing of an application is not an appeal or a review of the original sanction imposed."
Warner has skippered Sunrisers Hyderabad in the Indian Premier League (IPL) since his Cricket Australia ban, which if he manages to overturn would move him in line to lead Sydney Thunder in the Big Bash League.
The 36-year-old, a regular in all three international formats, could also come into the frame to deputise for Test and ODI captain Pat Cummins as well as T20 skipper Aaron Finch.