The Academys 54-member board of governors made the decision at an emergency session after investigations by The New York Times and The New Yorker that revealed sexual harassment and rape allegations against Weinstein.
In a statement, the academy said the vote was "well in excess of the required two-thirds majority," reported New York Times.
"We do so not simply to separate ourselves from someone who does not merit the respect of his colleagues but also to send a message that the era of willful ignorance and shameful complicity in sexually predatory behaviour and workplace harassment in our industry is over," the Academy board said in a statement.
In its 90-year history, the Academy has expelled only one other member, and only because 83-year-old Carmine Caridi, an actor, violated specific written rules about sharing screener copies of films in 2004.
No member has been expelled for unethical or potentially criminal behaviour, including figures such as Roman Polanski, Bill Cosby and Mel Gibson, who have had high-profile sexual or domestic assault allegations made against them.