The Belgian was found guilty of going 179km/h in a 50km/h zone nearby to his hometown in Temse, Belgium.
Cordeel was caught out after a video of him speeding was posted on TikTok, with the incident occurring in December 2020.
The case was only heard earlier this month, and as a result, he was fined €3,600 and banned for six months.
Cordeel’s lawyer argued in the case: “There can be no link whatsoever between the video and the fact that my client was driving.
“It was his father’s car, but otherwise there is enough doubt to say that he was not driving.”
Cordeel will continue to race in F2 - F1’s main junior series - in 2023, switching to Virtuosi Racing alongside Jack Doohan.
The 20-year-old finished 17th in the final F2 standings with just 26 points.
His best finish came in the Abu Dhabi sprint race, finishing fifth.
However, F2 CEO Bruno Michel admitted that he will need to speak to the FIA as the series “can’t ignore that fact.”
“I don’t think there anything specific in our regulations that [says] you need to have a driver’s licence,” he said.
“But that’s probably something that we need to discuss with the FIA as well, and to see how we deal with that. We can’t ignore that fact, for sure. That’s something we will need to absolutely have a word with the FIA and see how we deal with that.”