In a statement on Facebook, League president Fraser Kerrins revealed a special general meeting was held on Tuesday night to discuss the future of the embattled club, with the club given the opportunity to present.
"Kyabram district league executive and clubs (The board) votes to suspend the membership of the Ardmona Football Netball club for the 2020 season," the statement read.
The club has been the source of much coverage in recent weeks from media across and outside the Goulburn Valley, and had started a gofundme in an attempt to clear mounting debts.
The fund had close to $10,000 on Tuesday night.
The club, who would be entering their 100th season in 2020, have lost their past 52 senior matches, as well as being unable to field a senior side in 2017.
In a statement on their Facebook page, the club promised to keep fighting.
"So the decision is in," it read.
"We have been placed into suspension. We are absolutely heart broken and lost for words. Our fundraising efforts will continue as will our committee's hard work in bringing ardy back!! The fight's not over!"