MLB's announcement said the suspension was for violating the league's joint drug prevention and treatment program.
"I realize now that I have made some mistakes. I am willing to accept the consequences of those actions," Braun said in a statement released by the league via Twitter. "I wish to apologize to ... all of the baseball fans especially those in Milwaukee, the great Brewers organization, and my teammates."
According to Fox Sports' Ken Rosenthal, Braun is making $8.5 million this season and the suspension will cost him about $3.4 million.
Braun was accused of failing a drug test in 2011, but he vehemently denied using performance-enhancing drugs and avoided suspension when an appeal panel ruled in his favor.
Braun won the National League Most Valuable Player Award in 2011.
"We commend Ryan Braun for taking responsibility for his past actions," said MLB executive vice president Rob Manfred. "We all agree that it is in the best interests of the game to resolve this matter. When Ryan returns, we look forward to him making positive contributions to Major League Baseball, both on and off the field."
The main contributors to The Buzz are:
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- Zuri Berry, Boston.com sports producer