Cano suffered a fractured fifth metacarpal in his right hand when he was struck by a pitch from Detroit's Blaine Hardy on Sunday.
Eighty games is the standard suspension for a first-time offender.
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Cano also said he was accepting MLB's suspension, calling it "the most hard decision I have ever made in my life, but ultimately the right decision given that I do not dispute that I was given this substance". Last season, he hit.280 with 23 home runs and 97 RBIs.
According to MLB's drug policy, a player can serve his 80-game suspension while on the disabled list, meaning it's still possible Cano could return to the Mariners in mid-August if he's healthy. Cano seemed prime to one day join the 3,000 Hit Club, as he sits fewer than 600 knocks away with five years remaining on his contract.
As he detailed in a lengthy statement, Cano tested positive for a substance called Furosemide, which is not a PED. The Mariners could, theoretically, also move Dee Gordon back to second base, with Guillermo Heredia potentially taking on a more prominent role.