Bedoya was punished after referee Adrian Velez handed out two red cards per team in Saturday's Bogota derby in which championship leaders Millonarios beat Independiente Santa Fe 2-1, the league body Dimayor said on its official website on Wednesday.
The Dimayor's disciplinary committee handed Bedoya "a fine of 1,227,850 Colombian pesos and a 15-match suspension for violent conduct against an adversary in an incident off the ball".
"According to the referee's report on the match between Santa Fe and Millonarios F.C., which took place on 22 September for the ninth round of the Postobon League II (Clausura), player number 20 Gerardo Bedoya, after being sent off, kicked an adversary in the face who was on the ground," Dimayor said.
The 36-year-old Bedoya, having been shown the red card for elbowing Millonarios midfielder Yhonny Ramirez, stamped on his fallen victim's face sparking a free-for-all among players of both teams.
Velez then also sent off Panamanian defender Roman Torres of Millonarios and Santa Fe's Edwin Cardona. Both players were handed two-match suspensions and fines of 245,570 pesos.
Bedoya, whom reports said had been sent off 40 times before Saturday's incident and has publicly apologised for his behaviour, won the Copa America with his country in 2001 and the Argentine league title with Racing Club that year.
The only way Bedoya, whose contract with Santa Fe expires at the end of the year, can play again this season is if his team reach the championship finals.
Winger Yulian Anchico put nine-man Santa Fe in front on the hour, heading home Argentine midfielder Omar Perez's free-kick but four minutes later striker Wason Renteria equalised with a low shot that beat goalkeeper Camilo Vargas.
Both sides were down to nine men for the final six minutes after defender Lewis Ochoa fouled midfielder Cristian Borja and was booked for the second time.
Millonarios had the last word with midfielder Mayer Candelo's winning shot from 30 metres in the second minute of added time.
They are top with 20 points from nine matches and Santa Fe, winners of the Apertura championship in the first half of the season, in 12th place with 11.
Oscar Fonseca of Patriotas was suspended for four matches for unsporting conduct towards a match official in his team's 1-0 home win over rivals Boyaca Chico.