The firm will be allowed to produce minced meat, sausages and ready-to-eat meals, but not to stock frozen meat.
Last week France suspended Spanghero's licence, accusing the firm of knowingly selling horsemeat labelled as beef, however the company denies the allegation.
"On the basis of inquiry results presented to me this morning, I have decided to restore the licence for ready-meals, minced meat and sausages," said French agriculture minister Stephane Le Foll.
"At this point, 80% of the entire meat stock have been verified, the work continues for the remaining 20%,” he said.
The full report into Spanghero will be published on Friday, said the minister.