Ference was given a minor penalty for his second-period hit on Vancouver's Zack Kassian in Saturday's 3-2 loss to the Canucks. The 35-year-old blue-liner drove his shoulder up into Kassian's head after the Canucks forward made a pass in the Oilers zone.
Ference is a repeat offender and will forfeit US$118,902.45 in salary.
He has been suspended on two other occasions and fined once over his 15-season career.
Ference will be eligible to return for Sunday's road game against the New York Rangers.