Bubka, an International Association of Athletics Federations Vice President and an International Olympic Committee executive board member, revealed his dismay in a statement released in response to the doping allegations made in a German TV documentary.
The ARD/WDR documentary featured a series of explosive claims from a former Russian Anti-Doping Agency official, who accused the agency of covering up positive tests from top athletes in different sports on a routine basis.
The revelations prompted an angry and defensive response from Russian sports officials, with athletics federation chief Valentin Balakhnichev describing the accusations as "a provocation aimed at undermining Russian sport."
The furore prompted Bubka, who is expected to stand against Sebastian Coe for the IAAF Presidency, to say: "I am deeply shocked and understand that we need to act quickly and transparently now in order to protect the integrity of our sport.
"Very serious allegations have been made in the German documentary involving such a large number of athletes and officials.
"I believe in a zero tolerance policy against doping and we have to consistently and relentlessly fight against what is the biggest threat to sport in the 21st Century."
The former Olympic champion, who won six successive world pole vault titles for the Soviet Union and Ukraine, called for the sport to fight against "criminal networks, which make millions on doping".
He also pushed for a concerted approach to "punish doctors, judges, coaches, managers and others if they are involved in doping and corruption."
(Reporting by Ian Chadband, editing by Alan Baldwin)
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