Manchester City have been banned from European competitions for the next two seasons for what the governing body called "serious financial fair-play breaches".
A Uefa statement said: "The Adjudicatory Chamber has imposed disciplinary measures on Manchester City Football Club directing that it shall be excluded from participation in Uefa club competitions in the next two seasons," adding that City failed to cooperate in the investigation.
It said Manchester City "committed serious breaches of the Club Licensing and Financial Fair Play Regulations [FFP] by overstating its sponsorship revenue in its accounts and in the break-even information submitted to Uefa between 2012 and 2016".
Financial Fair Play was introduced by Uefa to prevent clubs in its competitions from spending beyond their means and stamp out what its then president Michel Platini called "financial doping" within football.
Under the rules, financial losses are limited and clubs are also obliged to meet all their transfer and employee payment commitments at all times.
The investigation into City was based on leaked emails published last year by German magazine Der Spiegel as part of "Football Leaks".
The English champions, who were also fined 30 million euros, immediately announced they were appealing the suspension to the Court of Arbitration for Sport (CAS)"at the earliest opportunity.
"Manchester City is disappointed but not surprised by today's announcement by the Uefa Adjudicatory Chamber," the club said.
"The... flawed and consistently leaked Uefa process he [the chief investigator] oversaw has meant that there was little doubt in the result that he would deliver... Simply put, this is a case initiated by Uefa, prosecuted by Uefa and judged by Uefa.
Pep Guardiola's City face Real Madrid in this season's Champions League last 16. (AFP)