It means Chelsea will be unable to make signings until the end of January next year.
"The Disciplinary Committee sanctioned Chelsea with a ban on registering new players at both national and international level for the next two complete and consecutive registration periods," FIFA said in a statement.
In addition, Chelsea were fined 600,000 Swiss francs ($600,000, 530,000 euros) and given a period of 90 days to regularise the situation of the minor players concerned.