Hyde was named as a "person of interest" in an alleged assault against a female that took place over the weekend at a bar in Columbus, the Columbus Dispatch reported. Hyde hasn't been charged.
Meyer and OSU announced that Hyde is suspended "from all football team activities pending the outcome of the student code of conduct and criminal investigations."
"I have a clear set of core values in place that members of this football program are constantly reminded of and are expected to honor," Meyer said in the statement. "There are also expectations with regard to behavior. I expect our players to conduct themselves responsibly and appropriately and they will be held accountable for their actions."
The school also announced that incoming freshman Tim Gardner, a defensive lineman, "will not be a part of the 2013 team" after being charged Sunday by Columbus police with "obstruction of official business." No other details are currently available.
Incoming freshman tight end Marcus Baugh "has been removed from all team activities and will sit out the first game of the season" after being booked early Sunday morning and charged with underage drinking and possession of a fake ID. The Buckeyes' opener is home against Buffalo Aug. 31.
The statement also specifies that star corner Bradley Roby -- arrested over the weekend on a battery charge in Bloomington, Ind. -- will not attend Big Ten media days as scheduled and "could face additional discipline."
Hyde rushed for 970 yards and 16 touchdowns for the Buckeyes last season, serving as half of a very strong rushing combination with quarterback Braxton Miller. Had Hyde reached the 1,000-yard mark he would have been the first running back to do so on a team coached by Meyer.
Last year, Meyer dismissed linebacker Storm Klein from the team after a domestic violence arrest. The charge was later dismissed and Klein was reinstated before the season began.