Legal experts say if the Jamaat appeals against the verdict and the Supreme Court does not stay it, the party would not be able to participate in the general election scheduled to be held by January 25, 2014.
In its verdict, the High Court observed that the poll panel "unlawfully" offered temporary registration to the Jamaat in 2008 and its charter contained elements contrary to the constitution and election rules.
The court also ruled that the poll panel's decision was "astonishing", "unethical" and contrary to its charter.
"It is hereby declared that the registration of Jamaat given to it by the Election Commission on November 4, 2008 was done without lawful authority and is of no effect," read the judgement of the High Court.
The Election Commission gave the Jamaat temporary registration only days ahead of the parliamentary election in 2008 after the party pledged to amend its constitution to comply with the basic principles of the constitution.