Rinaldo will miss the final four games of the regular season and will forfeit $15,384.60 in salary.
He injured Buffalo Sabres defenceman Chad Ruhwedel in the third period of Sunday's game. Ruhwedel will miss the remainder of the season after being diagnosed with a concussion.
"It's unfortunate it's for the remainder of the season," Rinaldo said Monday night. "It's just one of those hits that kind of slipped away from me. It was bad timing and a little vulnerability on his side of the puck, too. My bad and his bad at the same time."
Rinaldo leads the Flyers with 153 penalty minutes.
Flyers general manager Paul Holmgren called the suspension "harsh."