-- the 2011 National League MVP -- has been suspended without pay for the rest of the season amid allegations he was using performance enhancing drugs.
MLB Commissioner Bud Selig made the announcement ... saying the Milwaukee Brewers outfielder violated the league's policy on substance abuse.
FYI -- the allegations came to light after authorities raided the Biogenesis clinic in Florida and discovered records linking Braun -- and a host of other MLB stars -- to PED purchases.
Braun's suspension will go into effect immediately and last the remaining 65 games of the season.
Braun released a statement saying ... "As I have acknowledged in the past, I am not perfect. I realize now that I have made some mistakes. I am willing to accept the consequences of those actions. This situation has taken a toll on me and my entire family, and it has been a distraction to my teammates and the Brewers organization."
The statement continues, "I wish to apologize to anyone I may have disappointed -- all of the baseball fans especially those in Milwaukee, the great Brewers organization, and my teammates. I am glad to have this matter behind me once and for all, and I cannot wait to get back to the game I love."
Braun allegedly failed a MLB-administered urine test back in 2011 ... and was facing a 50 game suspension. But MLB's case fell apart thanks to a courier who allegedly mishandled the samples before they were tested.
As for Alex Rodriguez, who was also reportedly linked to the Biogenesis lab -- the MLB hasn't commented on his situation ... yet.