Toronto assistant Jamaal Magloire was also fined $15,000 for pushing Chicago forward Nikola Mirotic during the altercation, the NBA announced on Wednesday.
Tempers flared with 3:58 remaining in the third quarter after Ibaka grabbed the ball and threw an elbow near the back of Lopez after a made 3-pointer, causing the latter to swipe at the ball. Ibaka appeared to shove Lopez, who responded by misfiring on an attempted punch. Ibaka retaliated by taking a swing at the head of Lopez.
"This game gets very competitive, obviously. It gets heated at times. That happened last night," Chicago coach Fred Hoiberg said. "We'll deal with it and move on, and we'll be happy to have (Lopez) in the lineup on Friday."
Several other players and assistant coaches joined the fray before the situation settled down. Both players were assessed technical fouls and were ejected for fighting.