The Crimson Tide (16-7, 5-4 SEC), who were already without the suspended Tony Mitchell, are now minus four of their top six scorers.
"We are extremely disappointed in the choices and decisions made by these young men that has led to this suspension," Alabama coach Anthony Grant said in a statement. "Talent is a gift, but character is a choice. The consequences of their choices have negatively impacted them as individuals and the people that love and support them.
"Our hope is that they will be mature enough to accept responsibility for their actions and place a higher value on their character."
Green leads Alabama in scoring (14.1 PPG) and rebounding (7.2 RPG). Collectively, Green, Mitchell, Releford and Steele combine to average 45.4 points per game, or 68 percent of Alabama's offensive output.