"With respect to these 28 athletes, the appeals are upheld, the sanctions annulled and their individual results achieved in Sochi 2014 are reinstated", the Lausanne-based tribunal said in a statement.
The Olympic Committee stated that the court ignored "the proven existence of systemic manipulation" of the anti-doping system, which may have a serious impact on the fight against doping, adding that they may appeal the decision.
Quoting two diplomatic sources, CNN said the parade is planned for February 8, a day before the games get underway in Pyeongchang, South Korea.
"Please, forgive us for not protecting you from this", Putin said adding that Russian Federation would continue supporting the athletes that go to South Korea for the Winter Games 2018.
The rulings are unlikely to go down with anyone involved in the Winter Olympics or the International Olympic Committee, as it comes as a huge blow to the IOC's claims that a state-sponsored doping programme was used in Russian Federation.
The Russian director of the laboratory that handled samples for the Sochi Games, Grigory Rodchenkov, said he gave cocktails of banned steroids to athletes and swapped tainted samples for clean urine on orders from Russian state sports officials.
Apple confirms U.S. agencies are looking into iPhone slowdown
This acknowledgement produced further backlash, with more than 30 suits filed in the USA alone, and government officials like Sen. Apple said it would never intentionally "degrade the user experience to drive customer upgrades ", in its statement on Wednesday.
It all happened after the confirmation of doping by Russian athletes during the 2014 Sochi Olympics.
Peskov said it was not clear whether the 28 Russian athletes would now be able to take part in the Winter Games set to begin in Pyeongchang, South Korea next week.
South Korea will go ahead with other Winter Olympics projects with North Korea despite Pyongyang calling off a joint cultural performance that was less than a week away, a South Korean government official said on Tuesday.
Sochi gold medallists Alexander Legkov (cross-country skiing), Aleksei Negodailo (bobsleigh), Aleksandr Tretiakov (skeleton), Dmitry Trunenkov (bobsleigh) and Aleksandr Zubkov (bobsleigh) are among the 42 athletes to have appealed against their bans.
The athletes were banned for life after investigations found they had been involved in state-backed doping at the 2014 Winter Olympics in Sochi, Russia.
Just over a week later, the Koreas announced they would form a joint women's ice hockey team to participate in the Olympics and that they would march together under a "unification flag" at the opening ceremony of the games.