The action came hours after a probe panel submitted its report to the government on the death of the patients at the Sushrut Trauma Centre in North Delhi.
Health Minister A K Walia also transferred Additional Medical Superintendent of the hospital Dr Ramphal.
Services of two doctors -- Teena Khurana and Richa Gupta have been terminated. Both the doctors were in-charge of the ICU.
Walia said said medical officer in charge of repair and maintenance Dr Anshuman has been placed under suspension.
The government has also terminated the contract of the private entity which was maintaining the oxygen supply system in the hospital.
Four patients died at the Sushrut Trauma Centre, a Delhi government-run hospital, on Tuesday following snapping of oxygen supply to the ICU.
The government had on Tuesday set up a probe panel headed by Special Secretary in Health department S B Shashank. The panel filed its report today.