Olympiakos Volos and Kavala have been relegated from the Greek Super League, the disciplinary committee announced on Thursday.
Volos president Achilleas Beos, in prison pending trial for his alleged involvement in a match-fixing scandal, and former Kavala owner Makis Psomiadis, also identified by the Athens prosecutor in the fixing probe, received life bans from football.
In addition the clubs were fined 300,000 euros ($431,505)apiece while Beos and Psomiadis were each fined 90,000 euros.
The decision means Larissa and Panserraikos will retain their Super League status.
Both clubs went down last season but now move up two places as a result of the sanctions.
A Super League spokesman told Reuters that Volos and Kavala were planning to appeal against the decision.
Volos's participation in the Europa League is also now in doubt. The debutants advanced to the third qualifying round by beating Rad Belgrade 2-1 on aggregate last week.
Greek football is still reeling from the probe into its biggest match-fixing scandal which erupted in June.
More than 60 individuals including club officials, players and businessmen are being investigated by the Athens prosecutor while three club presidents have been imprisoned pending trial.
UEFA president Michel Platini met Greek Prime Minister George Papandreou and Hellenic Football Federation president Sofoklis Pilavos in Athens on Tuesday.
Platini said he would be sending teams of experts to Greece to help the country reform its soccer leagues following the match-fixing scandal and increased crowd violence in and around the stadiums.