The process of terminating Weinstein's membership was initiated by the PGA's board of directors two weeks ago.
The guild's constitution had given the Hollywood mogul an opportunity to respond to the charges against him, but he chose to "resign" from his membership.
"In light of Mr Weinstein's widely reported behaviour — with new reports continuing to surface even now the Producers Guild's National Board has voted unanimously to enact a lifetime ban on Mr Weinstein, permanently barring him from PGA membership," the PGA said in a statement.
Calling it an "unprecedented step", the guild said that it was "a reflection of the serious with which the Guild regards the numerous reports of Weinstein's decades of reprehensible conduct."
"Sexual harassment can no longer be tolerated in our industry or within the ranks of Producers Guild membership," the guild said.
The PGA also said that its Officers and National Board of Directors have created the Anti-Sexual Harassment Task Force which will research and propose substantive and effective solutions to combat "sexual harassment in the entertainment industry".
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