Coach Paul Hewitt said Thursday that Okoloji's actions were "inexcusable and not what we expect from a George Mason student-athlete."
Hewitt did not specify the length of the suspension but says it will include Sunday's game against Oklahoma in the BB&T Classic.
Okoloji was involved in the momentum-shifting sequence in the second half of Wednesday night's 68-66 loss. South Florida's Anthony Collins was tripped from behind by Okoloji near the foul line, then was stepped on by Okoloji as Okoloji's momentum took him down the court. Okoloji was whistled for both a personal and a technical foul.
Okoloji has appeared in eight games this season, averaging 2.4 points.