Evans is the latest AFL player to be suspended for using homophobic language after an incident involving the 18-year-old in last Saturday's VFL game against Coburg.
He admitted to using the offensive language and has taken responsibility for his actions.
"My language was totally unacceptable, I'm disappointed in myself, and apologise to the LGBTQI+ community and our club," Evans said.
"I knew as soon as it came out of my mouth that I'd made a bad mistake and this language is unacceptable on or off the field."
Evans will also undertake LGBTQI+ inclusion education.
"Everyone understands that homophobia and homophobic language has absolutely no place in our game at any level or in the wider community," AFL chief operating officer Tom Harley said.
"Our players have a very clear understanding of what is acceptable on the football field and in society.
"Koby self-reported this incident and has taken ownership of his mistake both privately and publicly.
"It is extremely disappointing to be dealing with another incident of this nature."
The AFL Players Association said the AFL's focus on punitive measures to rid the competition of homophobia is not working.
"A more holistic solution requires meaningful engagement with LGBTIQA+ community leaders, education that reflects the diverse backgrounds and experiences of players, and a disciplinary process that minimises and remedies the harms caused," AFLPA chief executive James Gallagher said in a statement.
"In recent weeks we have reinforced this in discussions with the AFL, and the AFLPA remains committed to work required to ensure a culture in our game where everyone is valued, respected and safe."
Evans' penalty comes less than a fortnight after the league sacked its appeals board chairman, Will Houghton, in the aftermath of St Kilda player Lance Collard's ban for calling a VFL opponent a "f***ing f****t" last month.
Houghton was axed after saying racist, sexist or homophobic language was "commonplace" in the AFL when adjudicating St Kilda's appeal.
Saints forward Collard has served a two-week ban after being found guilty of using homophobic language, after initially being banned for seven weeks.
Evans has yet to make his AFL debut.
Collard's latest suspension came less than two years after a six-game ban for the same offence.
Adelaide's Izak Rankine was banned for four matches last year for the same offence, missing the Crows' finals series.
Untried Sydney defender Riak Andrew (five matches) and West Coast player Jack Graham (four) were also suspended last season.
In 2024, ex-Port Adelaide player Jeremy Finlayson was handed a three-match ban, and Gold Coast midfielder Wil Powell was suspended for five matches.
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