"As a result of the Committee to Defend the President's repeated sharing of content determined by third-party fact-checkers to be false, they will not be permitted to advertise for a period of time on our platform", Stone said in the statement on Thursday.
Facebook has not provided further information, such as how long the group will be banned from posting advertisements, according to US media.
CNN reported that earlier this year, representatives for former President Barack Obama sent a cease-and-desist letter to the Committee demanding that they stop showing an ad that uses Obama's words to imply Democratic presidential candidate Joe Biden supports "plantation politics".
The group has about 1 million followers on Facebook and has spent more than $300,000 in advertisements on the platform since 2018, according to CNN.