The club has not specified the punishment meted out to the forward, who turned up at QPR on 31 January despite the two clubs' failing to agree a fee for the player, but said in a statement that he has returned to full training with his team-mates and is available for selection.
Odemwingie told the club website: "I understand how my actions have been viewed and want to apologise to the club and our supporters for any distress I have caused.
"I want to reassure everyone at the club and our fans that I will continue to give my all whenever I am selected.
"We have enjoyed a good season so far and I aim to play my part in keeping the club as high up the table as possible."
Chairman Jeremy Peace added: "This has been an extremely difficult time for the club and it was imperative that we dealt with such a serious matter both fully and correctly.
"He has accepted his punishment and promised to comply with all club regulations moving forward.
"It was important that we resolved this episode as expediently as possible to enable everyone to focus on the most important issue at this club - competing in the Premier League."
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