Russian Super League team Metallurg Magnitogorsk, who claim Malkin remains under contract in his native country, was seeking a preliminary injunction that would have banned the forward from playing for the Penguins until the matter is resolved.
"We always have been confident in our position in Evgeni's case," Penguins vice-president of communications Tom McMillan said in a statement Wednesday. "We are very happy for Evgeni, his family and Penguins fans."
The judge also dismissed similar motions from Russian club Lokomotiv Yaroslavl that would have prevented Andrei Taratukhin of the Calgary Flames and Alexei Mikhnov of the Edmonton Oilers from playing in the NHL. Yaroslavl also claims the two players are under contract in Russia and should not be allowed to play for any other club.
"We are pleased with Judge Preska's ruling today which will allow these players to continue to play for their NHL clubs," NHL deputy commissioner Bill Daly said in a statement.
The 20-year-old Malkin left Metallurg Magnitogorsk during August's training camp in Helsinki, slipping quietly into the United States to begin his NHL career. Malkin was under contract for another year in Russia.
After Malkin left his Russian team, he cited a Russian labour law that permits an employee to leave a job by giving two weeks notice.
Malkin has nine goals and six assists in 12 games for the Penguins this year.