The 20-time Turkish champions have been given a one-year ban by Europe's governing body. Galatasaray's only continental title is the UEFA Cup in 2000.
Turkish giants Galatasaray have been banned from competing in UEFA competitions for one season after breaching financial fair play regulations.
UEFA confirmed it was investigating the club's finances in January after the club failed to comply with rules around financial losses. The club was fined 200,000 euros ($217,000) by Europe's governing body in 2014, and the case was referred to the Club Financial Control Body.
The UEFA statement read: "This decision was taken after Galatasaray failed to comply with the terms of the settlement agreement that it entered with the CFCB Chief Investigator in May 2014 under Article 15 of the Procedural rules governing the UEFA CFCB."
The Turkish champions will be banned for the next UEFA competition they qualify for in seasons 2016-17 and 2017-18. Galatasaray finished third in the Champions League group stages this season before losing to Lazio in the Last 32 of the Europa League.