Collard was handed a nine-game ban for uttering an offensive slur in a VFL game, rejecting evidence from the 21-year-old who denied making the offensive remark.
It was the second time in three seasons Collard has been found guilty of using homophobic language in a VFL match.
He was banned for six games in 2024 when he admitted to using the same slur on-field.
"As a club, we will continue to stand by Lance, who maintains his position of innocence," the Saints statement read.
"This process has had a considerable impact on Lance, and we are committed to ensuring he is not only supported but that his integrity is defended through the appropriate process.
"We also recognise and empathise with the impact the ongoing and public nature of this matter has had, particularly on members of the LGBTQIA+ and First Nations communities."
The appeal hearing is set to take place next week.
St Kilda's official declaration of an appeal comes a day after Saints coach Ross Lyon labelled the AFL's tribunal process a "firestorm".
"All of us from club-land are concerned about our individual players and the stress that they're put through and potential damage to that individual - whether it's (Zak) Butters or Collard or the people being caught up on the other side of the fence," Lyon said on Thursday.
"It's very challenging and there's no doubt there's going to be losers and people that are damaged ... that sits really heavily."
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