There was no pardon for the Spanish defender after the European governing body announced their decision following a meeting on Tuesday to discuss his appeal.
Carvajal was initially given a two-match suspension after picking up his fifth yellow in Madrid's penultimate game of the group stages against APOEL Nicosia which meant he was forced to sit out their final group match on 6th December.
However, he will also miss 'Los Blancos' first-leg of the Round of 16 against PSG on 14th February after his appeal was rejected, with UEFA deeming his fifth booking as deliberate.
Without, Carvajal, it means that Zinedine Zidane will have to rely on Nacho as his right-back as they look to defend their Champions League title in what will be a tough encounter between two of Europe's giants.