McLeod saw a straight red card for an incident involving Pools defender Michael Nelson in the 82nd minute of the match at Victoria Park. MK manager Martin Allen vowed to appeal the red card but the Football Association rejected McLeod's appeal on Tuesday.
With it being the strikers third red card of the season, he must now serve a five-game ban and will be out until 20 February.
It had been widely expected that McLeod would attract transfer offers in the transfer window. Although the news of this lengthy ban may put potential buyers off.
Click here for McLeod's career statistics
Click here for McLeod's 2006/7 statistics