Balta has pleaded guilty to assault and will be sentenced on April 22 for his attack on a 27-year-old man outside the Mulwala Water Ski Club.
Balta has been suspended for four premiership season matches by his club in a sanction ratified by the AFL after the incident on December 30 last year.
The suspension expires this weekend with Balta eligible to return in Richmond's round five game against Fremantle on April 13.
AFL chief executive Andrew Dillon said the league was "comfortable" in allowing Balta to play before being sentenced in court.
"By the time Noah is eligible to play again he would have served a four week AFL suspension as well as missing a couple of weeks of practice matches," Dillon told reporters in Adelaide on Tuesday,
"Ultimately it will be a decision from Richmond, whether they select him straight into the AFL or into the VFL side."
Dillon said the AFL wouldn't step in again before Balta's sentencing.
"We have worked with Richmond and we're comfortable with the suspension and the suspension that Noah has served ... we're comfortable with where Richmond landed on that one," Dillon said.
Balta, 25, pleaded guilty in the Corowa Local Court to assault occasioning actual bodily harm which in NSW carries a maximum penalty of five years in jail.
Prosecutors said the actions of the 2020 premiership player, which hospitalised the victim Thomas Washbrook with head injuries, met the threshold of a high-level offence.
Prosecutor Jason Tozer told the court on March 27 that Washbrook could have been killed.
"Your Honour can see he (the victim) becomes fully airborne and travels a metre or a metre-and-a-half," Sergeant Tozer told the court.
"It is only sheer luck that his head did not make contact with that concrete."
The court was shown CCTV footage which shows Balta run out of the club and shoulder-charge Washbrook, knocking him to the ground.
Court documents state Balta punched Washbrook's head two to three times and assisted his brother by holding the man down.
Balta punched Washbrook twice more in the head before he was pulled away from the victim, who was bleeding from a three centimetre head wound.
Balta's defence team admitted to the court the incident was serious, but argued the assault was at the higher end of a mid-level offence.
Balta's lawyer Belinda Franjic told the court the offence was "completely and utterly out of character" for the AFL star.
Balta had admitted drinking significant amounts of alcohol on the day of the offending and reacted to seeing his younger brother in a confrontation, the court was told.
Balta had shown genuine remorse and sought professional help to address his behaviour, Franjic said.
Balta has reached a confidential settlement with Washbrook, who was forced to take time off work at the Wangaratta Council because of his injuries.
The settlement was reached after Balta was sued for pain and suffering as well as medical expenses.
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