Telfair was sentenced last month to three years' probation. He was arrested in April 2007 when police found him carrying a loaded gun in his car while he was a member of the Boston Celtics.
The Celtics traded him to Minnesota in the deal for Kevin Garnett, and Telfair had a solid and incident-free first season in Minnesota. He signed a three-year, $7.5 million deal this summer to remain with the Timberwolves. He is the top backup to starter Randy Foye.
"I've talked to Sebastian about the incident. This is something that happened in the past, and he is looking forward to putting this behind him," Timberwolves vice president of basketball operations Kevin McHale said. "Since he has been a member of the Timberwolves, Sebastian has been a great teammate and has been actively involved in the community. I couldn't be more proud of Sebastian's continued improvement as a basketball player and as a young man."
Minnesota coach Randy Wittman downplayed Telfair's suspension before the Timberwolves played the Chicago Bulls in a preseason game Tuesday night at the United Center.
"It is what it is. That was something in his past, happened a couple of years ago. Now we have to deal with that," Wittman said. "Since he's been here with us he's been a model citizen. He's been great in the community. He's done everything I've asked him to do. ...Finally now maybe he can put this thing behind him and move forward. ... It's unfortunate to miss the first few games of the year, but we can put it to rest now."
After an underwhelming first three seasons in Portland and Boston, Telfair notched career highs in games started (51), shooting percentage (40) and assists per game (5.9) and averaged 9.3 points last year for Minnesota.
He will miss home games against Sacramento and Dallas and a road game at Oklahoma City. Telfair is eligible to return for a home game on Nov. 5 against San Antonio.