Foley was shot early Sunday morning by an off-duty police officer near his home in the Coronado, Calif.
The Chargers placed the hospitalized Foley on the non-football injured reserve list.
"Our concern right now is for Steve's overall health and well-being," said Chargers General Manager A.J. Smith. "Steve's health needs to be his No. 1 priority. Football is secondary right now. Steve needs to focus on his recovery."
According to the San Diego Union-Tribune, Lt. Dennis Brugos shot Foley three times after pulling over the player early Sunday morning. Foley's car reportedly almost hit several vehicles while weaving in and out of traffic in speeds ranging from 30 to 90 miles per hour.
Foley has also been accused of resisting arrest, battery on a police officer and being drunk in public.