James, England’s top scorer at the tournament with three goals, received a red card for a bad-tempered stamp on Alozie’s back in the 87th minute of Monday’s game.
The 21-year-old Chelsea player, who will also miss the semi-final if England qualify for the last four, apologised for the incident on Tuesday.
England were reduced to 10 players for more than half an hour but went on to beat Nigeria in a penalty shootout after the match ended 0-0 following extra time.
“The FIFA Disciplinary Committee has imposed a two-match suspension on England’s player Lauren James…,” FIFA said in a statement.
“The suspension will be served for the FIFA Women’s World Cup quarter-final and the next international fixture following that.”