The Liberia Football Association chief failed an integrity check in November but vowed to take his fight to the Court of Arbitration for Sport (CAS).
However, in a statement released on Thursday, CAS confirmed it had "dismissed the appeal and upheld the FIFA Ad hoc Electoral Committee's decision".
"The full award, with grounds for the decision, will be issued in early 2016," CAS added.
Bility's initial candidacy had been rejected on the grounds of a six-month ban from football issued in 2013 by the Confederation of African Football (CAF).
The sanction had been handed down after CAF agreed that Bility had used some of its confidential documents as part of a legal challenge against president Issa Hayatou, now the acting head of FIFA.
"I think it's unfortunate," Bility said at the time. "My decision to fight CAF at the time was a genuine attempt to change African football and prevent rules from being arbitrarily violated."
FIFA's electoral congress is due to be held on February 26 of next year.