Jahlil Okafor is NOT out of the woods for his violent Thanksgiving Eve street fights -- with the NBA telling TMZ Sports they're still investigating the situation and have not decided if he'll face additional punishment from the league.
As we previously reported, the Philadelphia 76ers suspended Okafor for 2 games -- after the rookie got in TWO FIGHTS that night ... allegedly knocking out two different men.
At least one of the alleged victims has already lawyered up and is threatening a massive lawsuit.
But the NBA tells TMZ Sports the investigation into Okafor is STILL going on -- two weeks after the incident.
"Based on what we currently know, we support the 76ers' approach in this matter," an NBA rep tells us ... "The league office is continuing to investigate the events of that night."
As for Okafor, he says he's "not proud" of his recent actions -- vows to hold himself to a higher standard moving forward.