Senanayake's ban has come with immediate effect, Sri Lanka Cricket (SLC) said.
SLC said it had received the ICC Bowling Action Legality Assessment Report pertaining to Senanayake. It was conducted by the Cardiff Metropolitan University - Cardiff School of Sport in England.
"The Standard ICC Illegal Action Testing Protocol was used to assess the degree of elbow extension from the point of upper arm horizontal to ball release within the bowling action," the report said.
"15-degree elbow extension threshold was exceeded in the four deliveries considered to be suspect in the 4th ODI played at Lords."
Senanayake was reported for illegal action during Sri Lanka's tour of England in May.
The 29 year old played a Test, 37 ODIs and 17 T2Os for Sri Lanka taking 58 international wickets.
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