The Blues have announced the 22-year-old will take leave, only two days out from their traditional season opener against Richmond at the MCG.
Hollands enjoyed a breakout season last year, playing 22 games for the Blues after making only 14 appearances in two seasons at Gold Coast.
But his start at Carlton a year ago was delayed as he served a two-game drugs ban.
The Blues said in a statement on Tuesday that Hollands had asked the club for help several weeks ago "with openness".
"We applaud Elijah for having the courage to come forward and ask for help, and we will continue to work with him to ensure he gets all the support he needs," Carlton football boss Brad Lloyd said.
"While Elijah has been engaged with the football program, quite rightly it is our care for him as a person which matters most, so this period of leave will allow him to focus on himself and he will be afforded as much time as he needs to do that.
"Elijah's level of involvement within the football program during this period will be worked through at the appropriate time, however that certainly sits secondary to Elijah's wellbeing - which is our No.1 priority."
Hollands started at Carlton a year ago with a two-game ban after he was caught with cocaine while on the Gold Coast in September, 2023.
He was charged by Queensland Police and sanctioned with a two-month good behaviour bond, and also had to complete a drug diversion course.
"I couldn't be more grateful to the coaches, players, admin staff, the way they've backed me in and then thrown their arms around me," Hollands said after making his Carlton debut.
"They've let me get to work; it's been huge and given me a heap of confidence.
"Even being able to come straight into the line-up and play AFL footy is humbling and also am really grateful."
His younger brother Ollie also plays for Carlton.
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