Toney, who reported to training camp Wednesday with the Giants' other rookies, can still participate in meetings remotely.
It has been an inauspicious start with New York for Toney, who had cleats the wrong size at his first practice, didn't attend most of OTAs with his contract still unsigned and now is on the COVID list one day after reporting to training camp.
Thursday's news comes at a time when the NFL is incentivizing players to get vaccinated against COVID-19. The league added additional COVID-19 incentives for players Thursday by threatening forfeiture and loss of game checks if an outbreak among unvaccinated players causes an unresolvable disruption during the regular season.
It was not known as of Thursday whether Toney has been vaccinated.
The Giants traded back with the Chicago Bears in the first round of this year's draft and used the 20th overall pick to select Toney out of the University of Florida, where he was first-team All-SEC last year. He had 120 career receptions at Florida, with 12 receiving touchdowns and an average of 13.3 yards per catch.
Toney is expected to be used as an offensive weapon this season with New York; he can be used in the backfield, outside and on special teams.