Fifteen people have been charged in his death. Ten — including two drum majors — are awaiting trial on charges of manslaughter and felony hazing.
Five people — including two other drum majors — have already reached plea deals with prosecutors and most were sentenced to probation and community service.
Champion's parents have sued the university over his death.
The band has long been a source of pride for Florida's only public, historically black university. It also has played a key role in fundraising and student recruitment.
The hazing scandal and the suspension of the band hurt the school, which is located in Tallahassee.
The crowd at last year's Florida Classic — a major fundraiser held annually at the Florida Citrus Bowl — was half the size it usually is.
In December, hazing and other problems prompted the school's accrediting agency to place it on a year of probation.
State Rep. Alan Williams said Thursday marked "a turning point" for FAMU and the Marching 100.
Williams, a FAMU graduate, praised the university's work to eradicate hazing and its decision to lift the band's suspension.
"I know that the entire community as well as fans and supporters of the Marching 100 throughout the world, looks forward to the day that these world class musicians will be back on the field showcasing their unique and astonishing marching maneuvers," he said in a prepared statement.