UEFA said on Friday that the Frenchman had been found guilty of improper conduct at the end of the last 16 second leg which Arsenal won 3-0 only to bow out 4-3 on aggregate.
"Arsenal FC manager Arsene Wenger has been suspended from carrying out his function for three UEFA competition matches by the UEFA Control and Disciplinary Body," a statement said.
Wenger, who was previously banned for one match after an outburst after last year's last-16 exit against Barcelona and then suspended for another two for breaching that sanction, said he will appeal.
Speaking at his Friday news conference, just before UEFA announced the decision, Wenger said: "If I am suspended then it is not justified and I will appeal straight away.
"I believe that they have transformed UEFA competition referees to be untouchable icons, where you cannot even have a word. The only thing they understand after the game is the report.
"I believe that when you have 25 years consecutively in Europe you can still ask the referee that you can have some discussion with him. It is very difficult to understand."
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