The Academy of Motion Picture Arts and Sciences said its board "voted well in excess of the required two-thirds majority" to expel him.
Its members include Hollywood figures such as Tom Hanks and Whoopi Goldberg.
Weinstein's films have received more than 300 Oscar nominations and won 81.
The emergency board meeting followed an avalanche of accusations against the producer by more than two dozen women, including actresses Angelina Jolie, Gwyneth Paltrow, and Rose McGowan, who alleges that he raped her in a hotel room.
