Jack Ginnivan is banned for the first two rounds of the 2023 season after admitting to illicit drug use.
The 20-year-old has also been hit with a $5000 suspended fine, and has received one strike under the AFL's Illicit Drugs Policy.
Ginnivan's admission to the AFL Integrity Unit came after vision of him with an illicit substance in Torquay in January emerged on Thursday.
"I understand that as an AFL player I have standards I need to meet and, on this occasion, I have fallen well short of the standards expected of me as a footballer and as a representative of Collingwood," Ginnivan said.
"I have made mistakes along the way and I'm determined to learn from them in order to be the best person and footballer I can be to avoid letting people down which is what I have done here."