The defender tweeted a picture of teammate Benjamin Mendy alongside a picture of a Spanish confectionary mascot with the caption "Guess who?".
The FA released a statement today confirming the repercussions of a post Silva had earlier defended as being a "joke with a friend". Silva's case is different as discrimination on social media does not trigger the same punishment if found guilty.
He was also fined £50,000 (NZ$100,000) and ordered to complete face-to-face education.
The pair look to share a close relationship on and off the pitch but a controversial tweet Silva made about his friend soon went viral.
Bernardo Silva wrote a letter to the FA, expressing regret for any unintentional offence caused by the tweet.
The 25-year-old then deleted the post prior to tweeting a follow-up response to say: "Can't even joke with a friend these days..."
The timing of the one match ban means that Silva will miss Manchester City's pivotal Premier League clash with Chelsea on November 24, though this could change if the Manchester club decide to appeal the decision.
"The post was on a social media platform exposed to the 600,000 followers of a high-profile and well-respected professional footballer".
The governing body of English soccer added that his social media activity had breached FA Rule E3 (1) as it was "insulting and/or improper and/or brought the game into disrepute".
The English Football Association (FA) has also instructed the Portuguese worldwide to complete face-to-face education after he admitted his post was insulting and improper and brought the game into disrepute.
Meanwhile, Manchester City are now occupying fourth position on the Premier League standings and they have lost three games this season.