Taurasi was suspended "for conduct detrimental to the team," the team said In a news release.
Taurasi faces three drunken-driving related charges, including extreme DUI, for a July 2 incident in which she also was cited for speeding.
Taurasi, a powerhouse for the team, will not be hitting the court for Saturday's game against Detroit or Wednesday's game against Minnesota.
“I am deeply sorry and embarrassed for causing this distraction for my teammates, the Phoenix Mercury, the WNBA family and fans," said the basketball star in a statement. "While I cannot say more with regards to the specifics of the case, I do want to make sure that everyone knows how much I appreciate their support and that I've learned a valuable lesson."
The 27-year-old guard was cited hours after she scored 22 points in the Mercury's 93-81 victory over the Seattle Storm. Taurasi had left a club and was going to the Phoenician hotel when she was stopped, according to the police report.
Her blood-alcohol level was 0.17 percent, more than twice the Arizona legal limit of 0.08 percent.
Taurasi pleaded not guilty to the DUI charges and her next scheduled court date is Wednesday.
She was the top pick in the 2004 WNBA draft after leading the University of Connecticut to three consecutive NCAA titles.