The much-anticipated film sparked controversy last week after it emerged it would feature a "gay moment".
It was due for release in Malaysia on Thursday, but Disney said it was being held for a "review" of its content.
The Malaysian Censorship Board (LPF) said on Tuesday it had approved the screening but with "a minor edit concerning a gay moment in the film".
Homosexual activity is illegal in Muslim majority Malaysia, although the country's tourism minister has said banning the film is "ridiculous".
A new release date has yet to be announced. The live-action remake was granted a "P13 parental guidance classification".