UPDATE: Jeremy Clarkson has not had his Top Gear contract renewed, meaning he has effectively been sacked from the hit BBC show.
BBC Director-general Tony Hall said the decision had been taken with "great regret".
He said: "It is not a decision I have taken lightly."
It came after Jeremy punched Top Gear producer Oisin Tymon in the face in a 'fracas' thought to be over the lack of hot food provided at a hotel after a day of filming.
Oisin then had to go to A&E for medical treatment after the incident.
Tony Hall added that he would publish the results of Clarkson's internal investigation.
"The BBC is a broad church. Our strength in many ways lies in that diversity. We need distinctive and different voices but they cannot come at any price. Common to all at the BBC have to be standards of decency and respect," he said in his statement.
"I cannot condone what has happened on this occasion. A member of staff - who is a completely innocent party - took himself to Accident and Emergency after a physical altercation accompanied by sustained and prolonged verbal abuse of an extreme nature.
"For me a line has been crossed. There cannot be one rule for one and one rule for another dictated by either rank, or public relations and commercial considerations."
Clarkson himself has yet to speak out about the decision, having last tweeted this morning.
Jeremy Clarkson is expected to be sacked today following an investigation into that “fracas” has found that he DID indeed punch BBC producer Oisin Tymon.
The Telegraph has claimed Lord Hall, the Director General of the BBC, will make a public announcement today that Jezza has been sacked from Top Gear.
Lord Hall is expected to declare he had been left with no choice but to give 54-year-old Jeremy the boot after the organisation's internal investigation concluded he did in fact attack the BBC producer following a verbal tirade.
The paper also quoted sources within the corporation as saying Radio 2* Breakfast Show* host Chris Evans might take Jeremy’s job on* Top Gear.*
However, last night the BBC insisted a final decision had not been made. A spokesman said: “When we have an outcome, we will announce it.”