Lazio striker Paolo Di Canio has been fined 10,000 euros (£7,000) for the fascist-style salute he made in the derby win over Roma in January.
The Italian Football League also handed Lazio a fine of the same amount.
Ex-West Ham United star Di Canio, 36, had claimed that the gesture was a misrepresentation by the cameraman.
But the League disciplinary commission ruled on Thursday that the gesture had "immediately and unequivocally recalled a precise political ideology".
Di Canio appeared to give a straight-arm gesture after scoring the opening goal in Lazio's 3-1 win over Roma.
The much-travelled forward has also played for Celtic, Sheffield Wednesday, Charlton, Juventus and AC Milan.
The League said players should not "engage in any gestures indicating any kind of political ideology...which could potentially provoke a violent reaction from fans".