Stokes was charged with affray by the Crown Prosecution Service on Tuesday following an incident at a Bristol nightclub in September, but the sport's governing body has announced that the 26-year-old can take part in England's Twenty20 series against New Zealand and Australia.
"Following a full board discussion, in which all considerations were taken into account, the ECB board has agreed that Ben Stokes should now be considered for England selection," a statement read.
"Given the CPS decision to charge him and two others with affray, confirmation of his intention to contest the charge and the potential length of time to trial, the board agreed that it would not be fair, reasonable or proportionate for Ben Stokes to remain unavailable for a further indeterminate period.
"To date, Stokes has been unavailable for selection throughout the police and CPS process around the incident in Bristol in September, a period which has included one-day Internationals against West Indies, the Ashes tour and the start of the ODI series against Australia."
England lost the Ashes urn to Australia after a 4-0 series defeat.