Lyon will be able to play in Europe next season if they win their appeal against relegation to the French second division, the club said on Friday.
On Tuesday, French football's financial watchdog (DNCG) demoted the club.
Lyon, who finished sixth in Ligue 1 last season and qualified for the Europa League, said at once they would appeal.
On Friday, they said that Uefa – the governing body of European football – was prepared to accept them into continental competition.
"Olympique Lyonnais completed the financial sustainability procedure and signed an agreement with the Uefa Club Financial Control Body," the club said on their web site.
"The club could therefore participate in next season's Europa League, subject to a favourable outcome of the appeal of the DNCG decision."
After the DNCG initially ruled in November that Lyon would be relegated at the the end of the season, Uefa began monitoring the club.
On 5 May, Uefa fined Lyon €200 000 for unpaid bills to other clubs, to employees, and to the tax and social security authorities.
After the DNCG ruling confirmed its initial decision, the club said they had met "all of its demands".
While they were unable to convince the French watchdog, Uefa has ruled Lyon could play in Europe.
Lyon will have seven days to appeal from the date they are officially notified of the DNCG's ruling.
The club said on Friday they had not yet received the notification.