The content "was vulgar and offensive, as well as misogynistic and racist in nature," it said.
"We make clear to all of our student-athletes that they represent Princeton University at all times ... and we expect appropriate, respectful conduct from them at all times," Samaan said.
A decision about whether to cancel the rest of the season is pending, the statement said. The team has two meets and the Ivy League championships still on its schedule.
The move came after New York's Columbia University suspended its wrestling team and Harvard University in Massachusetts cancelled its men's soccer season.
(Reporting by Ian Simpson in Washington; Editing by Paul Simao)