"Dennis's use of foul and abusive language and the embarrassment he caused the Chicago Bulls organisation by subjecting young children and loyal fans to his profane outburst cannot and will not be tolerated," said Bulls vice-president Jerry Krause.
"We condemn in every way what Dennis said and the words he used. This suspension, which will cost Dennis $104,878 [pounds 65,000] in salary, speaks out about our concern."
Rodman, known as much for his wild hair-styles, body piercings and cross- dressing off the court as he is for his outstanding rebounding, misses Wednesday's game against Minnesota and Friday's game at New Jersey.
In a statement issued in New York, the NBA said it would not take any additional action against Rodman. In a diatribe after he was ejected from Sunday night's game, Rodman criticised both league officials and the NBA. He said NBA referees were being kept "in diapers" by the NBA Commissioner, David Stern.
Rodman was suspended by the NBA for six games last season after he head- butted an official during a game.