The move, retroactive to Saturday, was announced before the first game of a day-night doubleheader against the Houston Astros.
The flame-throwing left-hander struggled over his last two outings, surrendering three hits and a run in two-thirds of an inning to the Astros in Friday night's 5-1 loss. Last Sunday, he blew a three-run lead in the ninth inning against the Chicago Cubs that ended up in an 18-inning win for the Yankees.
The 29-year-old Chapman, who signed a five-year, $85 million contract during the offseason, has seven saves with a 3.55 ERA and 21 strikeouts over 12 2/3 innings in 14 appearances this year.
The Yankees plan to go with Dellin Betances as the team's closer while Chapman is out.
The Yankees also recalled right-hander Chad Green from Triple-A Scranton/Wilkes-Barre prior to Sunday's doubleheader.
In addition, the Yankees will recall infielder/outfielder Rob Refsnyder from Triple-A prior to the second game.