The Selecao star learned of his punishment last Friday following his petulant behaviour in Wednesday's 1-0 loss to Colombia, during which he received a straight red card for attempting to headbutt Jeison Murillo before then verbally assaulting referee Enrique Osses.
Despite the protestations of Neymar's team-mates defending his innocence, the Brazilian Football Confederation (CBF) have opted against trying to overturn the lengthy suspension that would have ruled the 23-year-old out for the remainder of the tournament in Chile.
"After a meeting that took place this Sunday night between Neymar and Brazil's coaching staff, it was decided that CBF will accept Conmebol's decision that suspended the player for four matches and therefore ended his Copa America campaign," a statement read.
"Both staff and the player hope that the same rigour that Conmebol used to punish Neymar will be adopted on all competitions organised by the federation. In conclusion, the Brazil NT coaching staff is sorry for the loss of another important player for this year's competition.
"Neymar will leave the Brazilian delegation that is concentrated at the Sheraton Hotel in Santiago this Monday."
The five-time world champions qualified for the quarter-finals to of Group C on Sunday after defeating Venezuela 2-1 in Santiago.