The striker, who scored the winner as Craig Levein’s side came back from a goal down to win 2-1, was cautioned by referee John Beaton on 62 minutes for simulation.
Ikpeazu had intercepted a short backpass and was heading for goal but fell to the ground as opposition goalkeeper Joe Lewis challenged him in the penalty area.
TV replays showed clear contact from the Dons ‘keeper on the former Cambridge United forward’s ankle, which took the Hearts player down.
Beaton showed him the yellow card but Tynecastle officials took the decision to appeal the caution on Ikpeazu’s behalf.
Scottish FA rules state that yellow cards given for simulation can be appealed and overturned, if they are proven to be incorrect.
Ikpeazu was stretchered off towards the end of the Ladbrokes Premiership match after falling awkwardly, and was taken to hospital on Saturday night to be assessed. He will miss tonight’s trip to Ibrox to face Rangers but should be fit to face Hibs in the Edinburgh derby on Saturday.