The Irish Rugby Football Union and Ulster Rugby have revoked the contracts of Paddy Jackson and Stuart Olding with immediate effect.
The review following the Belfast rape trial concluded last Wednesday and the players were informed then of the decision.
An IRFU statement read: "Following a review, conducted in the aftermath of recent court proceedings, the Irish Rugby Football Union and Ulster Rugby have revoked the contracts of Patrick Jackson and Stuart Olding with immediate effect.
"In arriving at this decision, the Irish Rugby Football Union and Ulster Rugby acknowledge our responsibility and commitment to the core values of the game: Respect, Inclusivity and Integrity.
"It has been agreed, as part of this commitment, to conduct an in-depth review of existing structures and educational programmes, within the game in Ireland, to ensure the importance of these core values is clearly understood, supported and practised at every level of the game."
Craig Gilroy, meanwhile, will remain an Ulster player after being sanctioned.