Asif, Salman Butt and Mohammad Aamer were suspended by the ICC in September after allegation surfaced that they were involved in spot fixing during the Test series against England.
"Mohammad Asif confirmed earlier today (Friday) that he has withdrawn his challenge to the provisional suspension imposed on him on 2 September 2010 pending determination of the charges brought against him under the ICC's Anti-Corruption Code," an ICC released said.
"Arrangements are now being made for the challenges being made by Salman Butt and Mohammad Amir against their provisional suspensions to be heard in Dubai on 30 and 31 October 2010," the release added.
British tabloid News of the World had alleged that the Asif and Aamer took bribes from bookie Mazhar Majeed for bowling no-balls during the Lord's Test.
Although ICC has not specified any reason why Asif withdrew his appeal, sources said Asif took the step after consultations with his lawyer in London.
"The legal firm representing him in the case apparently has advised him to take more time as they require time to prepare for the case and appeal against the suspension," one source said.
The source added that the lawyer representing Asif had come across some technical issues in the appeal filed with the ICC and hence advised him to withdraw it for now.
The three players had filed separate appeals against their suspension this month.
Earlier, the ICC was to conduct hearing in Doha because Asif is barred from entering Dubai after being caught with a small quantity of banned substance at the Dubai airport two years back.