After reviewing medical opinions, the IBF has decided that if professional boxers compete in Rio it would be considered unsportsmanlike behaviour and they would be sanctioned.
"Making this decision was not difficult for us," IBF president Daryl Peoples said in the statement.
"We felt it was important for the IBF to get involved and take a stance against professional boxers competing against amateurs due to safety concerns, as part of our commitment to this sport is to promote the health and well-being of the boxers."
The IBF said non-title holders who compete at Rio would be removed from its ratings for one year.
(Reporting by Frank Pingue in Toronto; editing by Ken Ferris)
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