The team said late on Sunday that an appeal will be lodged.
The Australian news agency AAP quoted a FIA source as saying Red Bull has served notice of the intention to appeal, but an actual formal appeal is yet to be lodged.
"It is understood Red Bull now has 96 hours to formally table their appeal," the report added.
As for when the probably Paris-based appeal will be held, the FIA source said: "It's not possible to say when it will be heard.
"It depends on how quickly both parties can prepare their cases. There is no set timetable", the source added.
Featuring a photo of the normally-grinning Ricciardo with a bowed head, the front page headline of the major Melbourne newspaper Herald Sun on Monday read 'Grand Farce'.
Race organiser the Australian Grand Prix Corporation's chief executive Andrew Westacott said: "Of course I want him to keep second place, I'm a bit gutted by it, but that's sport and funny things happen."