Gulzabeen Afsar was hoping to be elected to a council seat near Derby, central England, when Britain goes to the polls on May 7, but will not now be able to run after posting the "offensive and unacceptable remarks" on Facebook.
She initially wrote that she "just can't take Mr Ed Miliband seriously!!," to which a user named Ziad Amjad replied that she should show "some respect for the future PM".
The Tories issued a statement saying that the "candidate concerned has now been formally suspended" from the party.
"We have taken this prompt action to suspend the candidate following offensive and unacceptable remarks made on social media," said the statement.
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"Our party is opposed to any form of discrimination, and clearly we could not countenance someone potentially representing us whilst holding such views of intolerance."
Baggy Shanker, a spokesman for the local Labour party, told local paper the Derby Telegraph: "As an ethnic minority councillor myself, it's very disappointing. I'd expect her to have better control of her comments."