The 28-year-old's future at St Mary's has been called into question of late following reports that the Saints rejected a bid from Inter Milan.
The Argentine arrived at Southampton last year with a reputation of controversy, and it appears that the forward has fallen into trouble with the Premier League outfit.
A statement from the club said: "Southampton Football Club has today suspended striker Dani Osvaldo for two weeks, following an incident at the club's Staplewood training ground. The club has taken swift and proper action for what it considers a breach of the conduct expected of its players. Southampton will be making no further comment on this matter."
According to Sky Sports News, the incident in question relates to Osvaldo being involved in an altercation with another player at the club's training ground.
The forward was previously disciplined by former club Roma in 2011 following an incident with Erik Lamela, who has since joined Tottenham Hotspur.