Renouf, 20, jumped on a car after leaving a Hawthorn hotel around 1am on Sunday morning. He then leaped to another car where he slipped and shattered the rear windscreen.
Hawthorn football manager Mark Evans said Renouf had been drinking in the lead-up to the incident, but had not started drinking until after he had left a club function during the day.
Hawthorn’s leadership group and club management met on Monday to decide the player’s punishment.
“Brent has behaved irresponsibly in public and has damaged a couple of vehicles,” Evans said. “He is embarrassed and very disappointed with himself and rightly so.
“He has accepted responsibility for the damage and repair and the cost for any hire cars.”
Evans said the incident had spoiled Hawthorn’s good record of off-field behaviour.
“It is disappointing for us. We believe our players have set some really good behavioural standards over the last couple of months and we’re pleased the public has recognised that. So it is disappointing to get to the last day before Christmas and have this come out.”
Renouf suffered minor cuts in the incident and is expected to speak to the car owners later on Monday.