The student, 26-year-old Robert Champion, died last month in Orlando after being severely beaten on a bus. The state medical board has ruled his death a homicide.
The medical examiner's office found that Champion had bruises to his chest, arms, shoulder and back and internal bleeding. No charges have been filed.
The call for President James Ammons to be suspended came from Gov. Rick Scott.
Ammons and other university leaders have been criticized for not doing enough to stop a culture of hazing within the university's famed "Marching 100" band.
Band director Julian White has been placed on temporary leave and the board had already publicly reprimanded Ammons.
The Associated Press contributed to this report.