In 2004, then President Roh Moo-hyun was impeached on charges including of illegal electioneering, but he was reinstated by the court two months later.
The decision was unanimous, with all eight judges on the court voting to remove Park from office.
'The benefits of protecting the constitution that can be earned by dismissing the defendant are overwhelmingly big, ' she said.
Election authorities expressed concern over growing tensions in the lead-up to polls to elect a new president, while newspaper editorials called for an end to ongoing street protests.
The president has repeatedly apologised for the impact of the scandal, but rejected all allegations of wrongdoing when she submitted a written statement to the court's last hearing in February.
Park's powers had been suspended since a legislative impeachment vote in December, but she has lived in the presidential Blue House, her childhood home, until now.
But that may no longer be an option once she leaves the Blue House, when she could face formal arrest if she refuses a summons.
It bears recall that Park's impeachment in December came after months of deeply damaging revelations about her relationship with Choi Soon-sil, a longtime friend with whom she is suspected of conspiring to secure donations worth tens of millions of dollars from major companies for foundations set up by Choi.
The court said Park had "completely hidden the fact of (Choi's) interference with state affairs".
Park was accused of soliciting bribes from the head of the Samsung Group, the country's largest conglomerate, for government favours. His trial began yesterday.
Both Park and her friend denied the accusations.
The court announced its plan on Wednesday to make a final ruling on the impeachment motion on Friday.
Pictured, protesters tried to get at police on top of buses by yanking them with poles.
She was also accused of neglecting her duties during the 2014 Sewol ferry sinking that killed more than 300, although the constitutional court did not rule on those accusations.
Earlier, the country's acting president called on his administration to heal the deep divisions inside South Korea. If Hwang resigns, as some media have speculated he may to run for president, the finance minister will take over as acting president.
"Park Gone-Hye - Park Gone-Bye", said users on Reddit. They will also work with the U.S.to help improve relations with China during an especially tense time for Asia.
Beijing has vigorously protested against the deployment, fearing its radar could see into its missile deployments.