The Argentinian striker allegedly refused to come off the substitutes bench during his side's 2-0 defeat to Bayern Munich in the Champions League on Tuesday.
Tevez later released a statement denying the allegation, while manager Roberto Mancini said that he would not play for the club again.
"Manchester City can confirm that striker Carlos Tevez has been suspended until further notice for a maximum period of two weeks," read a club statement.
"The player's suspension is pending a full review into his alleged conduct during Tuesday evening’s 2-0 defeat to Bayern Munich.
"The player will not be considered for selection or take part in training whilst the review is under way."
The suspension means that Tevez will not feature in City's match at Blackburn Rovers on Saturday.