The club has placed the 32-year-old on injured reserve.
The native of Mississauga, Ont., has appeared in nine games this season but has no points.
There was no reason given for the move but Canucks president/GM Mike Gillis said the club's main concern for Malhotra is his long-term health.
In March 2011, Malhotra suffered a serious eye injury when struck by a puck during a game versus Colorado.
But he didn't play in Vancouver's 2-1 win over Minnesota on Tuesday night for what the team said was "a personal matter.''