During last month's Ligue 1 match against Olympique de Marseille at the Parc des Princes, PSG fans were heard celebrating with homophobic chants directed at Marseille, and reports said PSG players were also involved.
French sports daily L'Equipe said PSG players were also involved in offensive chanting.
The LFP handed the players suspended one-match suspensions effective from October 10 and decided to close the Auteuil stand at the Parc des Princes for two matches, one of which was suspended.
"The club regrets that the Disciplinary Commission has opted for an excessive and collective measure, likely to undermine the work of dialogue and prevention undertaken by the Club with associations, institutions and fans," PSG said in a statement, adding that they will not appeal.
The players later apologised, saying they got "carried away by the euphoria" of the victory.
"We're well aware of the impact of our gestures and words on the public, especially the younger ones who dream of watching a football match," they wrote in social media posts.
"We sincerely regret the words we should not have spoken and wish to apologise. In the future, we will do our utmost to be even more exemplary."
