The International Olympic Committee also banned the disgraced American athlete from attending next year's Beijing Olympics in any capacity and said it could bar her from future games.
Jones had already handed back the three gold medals and two bronze she won at the 2000 Sydney Olympics.
In November, the International Association of Athletics Federations erased all of Jones' results dating to September 2000, but it was up to the IOC to formally disqualify her and take away her Olympic medals.
"She is disqualified and scrapped from the results," IOC president Jacques Rogge said at the close of a three-day executive board meeting.
"It was an easy decision," added IOC vice president Thomas Bach, a German lawyer who headed a three-member disciplinary panel in the case. "The facts were clear."
Jones won gold medals in the 100 meters, 200 meters and 1,600-meter relay in Sydney, and bronze in the long jump and 100-meter relay. She was the first female track and field athlete to win five medals at a single Olympics.
After long denying she ever had used performance-enhancing drugs, Jones admitted in federal court in October that she started using steroids before the Sydney Games. She said she'd used the designer steroid "the clear" from September 2000 to July 2001.
- The IOC also is taking steps to ensure that illegal betting and match-fixing are kept out of next year's Olympic Games.
Rogge said Wednesday the IOC might bring in a company that monitors gambling.
"Bona fide betting companies can give us information and early warnings on abnormal betting partners," Rogge said. "They have their statistics, they have their computers and they can immediately say, 'This is not normal. Why is there so much betting?' Then they can inform us. And then we can act."
- The French Olympic chief received a reprimand from the IOC for his role in a corruption case.
Henri Serandour received a suspended three-month prison sentence from a Paris criminal court in October 2006. He was convicted on charges of giving two lucrative jobs to a communications company that hired his wife, former swimmer Catherine Poirot.
He was barred from sitting on any IOC commission for five years.