The club has also been fined $269,000 for breaches over three seasons, Football Federation Australia (FFA) said on Friday.
TWG understands that the club's chief executive Jason Brewer will be sacked this afternoon.
Perth deliberately failed to disclose payments and benefits to at least six players, FFA said, adding the club was about $400,000 over the $2.55 million salary cap.
A statement released by FFA outlined Glory's ladder position will be altered to seventh, ruling Kenny Lowe's club out of contention for an AFC Champions League (ACL) place and the right to contest the Premiership and Championship.
A-League chief Damien de Bohun confirmed individual stats for Glory players will stand, despite the club's expulsion from the finals series.
FFA's sanction found Glory had "deliberately failed to disclose reportable benefits and payments to at least six players, and from the beginning of the 2014-2015 season has been operating in excess of the allowable salary cap of $2.55m by in the order of $400,000.
"FFA has also determined that the Club was in breach of the rules for failing to disclose payments in the 2012-2013 and 2013-2014 seasons.
The club will also be fined $269,000 for the breaches over the three seasons as outlined in FFA's statement:
* $26,000 for the 2012/13 season, being the value of the undisclosed payments and benefits
* $43,000 for the 2013/14 season, being the value of the undisclosed payments and benefits
* $200,000 for the 2014/15 season, taking into account the significance of the total sanction for this season, namely the exclusion from the Finals series (and consequently any prospect of qualifying for the 2016 Asian Champions League)
The breaches include deliberately not disclosing:
* Payments outside of the Standard Player Contract
* Payments to a player's family member
* Payments of player agents' fees
* A Third Party sponsorship
* A Pre-payment to a player
* Payment of travel costs
* Accommodation benefits
* Provision of motor vehicles
The club has seven business days in which to lodge an appeal under the FFA's regulations to the independent FFA Disciplinary Committee.
"The breach this season involves the deliberate failure to disclose payments and benefits to at least six players," Gallop told reporters on Friday.
"We cannot have a club that is deliberately, significantly and persistently breaching those obligations of playing for the championship.
"Where you've got deliberate concealment, you need to impose strict penalties to send a deterrent.
"Certainly it would be clear that the management have engaged in these practices and, in our view, it would be unlikely that management would stay in place."
Glory said it will release a statement ahead of its Friday night home match against Sydney FC.