Malkin was tossed from Monday night's game against the Philadelphia Flyers after swinging his stick at Michael Raffl's head. The league held a hearing Tuesday for the infraction and ultimately decided to suspend the forward.
The play occurred late in the third period during the Penguins' 4-1 win over the Flyers at Wells Fargo Center in Philadelphia.
Malkin and Raffl had an altercation while going for the puck in the neutral zone. Raffl made contact with Malkin from behind, hitting him in the back along the boards. Raffl extended his left arm and hit Malkin in the back of the head before he skated away.
Malkin turned and flung his stick in the air, narrowly missing Raffl's head. The 32-year-old forward deemed the play "dirty" after the game.
"He like smacked behind my head," Malkin told reporters. "I'm not trying to hit his face, but I know I didn't play smart then. But it's only like one point. I didn't touch him. I looked at [the] replay. I know it's dirty, but I missed [with] my stick. I did not touch his helmet. ... He is diving like, 'Referee give me five minutes.'
"Nothing dangerous, not bleeding, nothing. I know I gave them a five-minute power play. It's my fault."
Malkin will also forfeit $51,075 for the infraction.
The Penguins host the Edmonton Oilers on Wednesday night at PPG Paints Arena in Pittsburgh.