Fabio Fognini has been fined $96,000 and given a suspended Grand Slam ban after his verbal outburst at an umpire at the US Open in September.
The Italian used insulting and sexist language towards female umpire Louise Engzell in his first-round defeat to Stefano Travaglia.
At the time, he was kicked out of the US Open and fined £18,000.
If he steps over the line again between now and the end of 2019, he will banned from two Grand Slams.
If he does not commit another offence in the next two Grand Slam seasons, however, his punishment will be reduced.
In a statement, the Grand Slam Board said: “Fognini accepts and will not appeal this decision and he has expressed remorse for his admitted misconduct. He has confidence that he will meet the conditions necessary to reduce his financial penalty and to lift his Grand Slam tournament suspensions in the future.”
Fognini told Sky in Italy last month: “Should (the Grand Slam Board) decide to ban me from the next Australian Open, I will accept the decision, because actions have consequences, and I need to pay for what I did.
“I am aware of the severity of my mistake, I take full responsibility for it.”