"Following extra information from FIFA, we resolved on moral and ethical grounds that we cannot benefit from corrupt activities," a national football association statement said.
"Therefore, we have decided to comply with the FIFA directive to replay the match against Senegal on a date to be decided."
Referee Joseph Lamptey awarded South Africa a non- existent penalty which they converted en route to a 2-1 home victory over Senegal in Group D last November.
The other South African goal was also controversial with the match official still ordering Senegalese players to retreat for a free-kick after it was taken.
The replay order means South Africa must play Senegal home and away during the November 6-14 international window.
Burkina Faso and Cape Verde have six points from four matches and Senegal five and South Africa one from three with the group winners qualifying for the 2018 World Cup in Russia.