The university announced the suspension, which is pending the legal process in Sanders' case, with a brief prepared statement and offered no additional comment.
Earlier, West Virginia coach Bill Stewart said through a school spokesman that he was looking into the situation and would "take appropriate action once all the facts are in."
Sanders, a junior, was seen speeding near campus and crossing the center lane in a black Dodge Charger early Saturday, according to an arrest report filed in Monongalia County Magistrate Court. Officer C.L. Thomas approached Sanders' car in a parking lot and reported that he could smell alcohol on Sanders' breath, the report said. When asked if he had been drinking, the 20-year-old Sanders responded "a little," according to the report.
Sanders then failed three out of four field sobriety tests and had a blood alcohol level of .125, the report said. The legal limit in West Virginia is .08.
This is Sanders' second arrest in the past year. He was one of four West Virginia players who were arrested in connection with a fight at a club last February. They were charged in March with battery and each pleaded no contest, receiving a fine and community service hours.
Sanders led the Mountaineers last season with 53 catches for 462 yards and seven touchdowns. He also ran for 278 yards and two scores.
Brian Bennett covers the Big East for ESPN.com.