A school official told ESPN that the suspensions are due to failure to "live up to the Gator standard."
Jefferson, who led the team in sacks last season with 4.5, is out due to "academic-related issues," according to a news release.
The seven-player suspension represents the first major discipline from first-year coach Dan Mullen, who came to Florida this offseason after nine seasons as head coach at Mississippi State.
Toney was involved in two incidents this offseason. Police pulled him over for a traffic stop and found a loaded assault rifle in his car in July. In May, he allegedly pulled out an air soft weapon during an on-campus altercation.