Taveras' suspension will begin on the first day of the 2009 season.
The announcement was made by the Office of the Commissioner of Baseball. Taveras tested positive for Stanozolol, an anabolic steroid.
A 19-year-old catcher, Taveras most recently played with the Yankees' Dominican Summer League affiliate, completing his second season in New York's chain.
A undrafted free agent from Santo Domingo, Taveras batted .229 (38-for-166) with one home run and 19 RBIs in 43 games. He had received a $200,000 signing bonus from the Yankees.
Baltimore Orioles pitcher Ambiorix Suero was also suspended for 50 games after testing positive for Boldenone.
Bryan Hoch is a reporter for MLB.com. This story was not subject to the approval of Major League Baseball or its clubs.