Star player Lee Chin was the victim of the racial abuse when playing for Sarsfields against Duffry Rovers.
A noted dual star, Lee Chin has played hurling and football for Wexford at every level.
Wexford county chairman Diarmuid Devereux condemned the incident.
He stated: “Lee Chin is a Wexford man, born in Wexford, living in Wexford, educated in Wexford and working in Wexford. He is one of our stars of the future. Hopefully, many more will follow his example."
The two opponents were named in referee Brendan Martin’s report for racially abusing Chin. The ref specially outlined the racist remarks made by one player on the field from Duffry Rovers and by a substitute on the sideline.
The Wexford County Board have since banned both players for two months and re-iterated that they will not tolerate racism in their sport.
Duffry Rovers co-operated with the investigation and were not fined.
The decision to ban both players has been welcomed by the Gaelic Players Association which represents inter-county players in gaelic football and hurling.
A GPA spokesman told the Irish Independent: “Racism is a problem that, if allowed to go unchecked, is a huge threat, and the GAA have made huge strides to promote integration.
“If incidents like this are even perceived to be taken lightly then it is a huge threat to the reputation of the game. So I would commend the board for taking action swiftly.
“It is something we need to be vigilant about, but it is not something that comes to us regularly. Quite often it is about education, awareness and people taking responsibility for their actions.
“It is not something that would have come on our radar in the inter-county game, but there have been incidents in the club game.”
Chairman Devereux was adamant that “Racism is something that will not be tolerated within Wexford GAA. That was also reflected in the way both clubs dealt with the matter.
“Both clubs accepted that kind of behaviour cannot, and will not, be accepted in Wexford GAA.
“The board have dealt with the matter fairly and showed that racism will not be tolerated. In the years to come, the GAA is going to be more ethnically diverse so it’s important to send out a clear message we’ll not accept such racist abuse.”