The Chinese world number 16, has been banned from attending or competing at events with immediate effect as the WPBSA continues to probe allegations that matches were manipulated for betting purposes.
Five other Chinese players - Lu Ning, Li Hang, Zhao Jianbo, Bai Langning and Chang Bingyu - were suspended last week pending the result of the investigation while countryman Liang Wenbo was banned in October.
A statement read: "WPBSA chairman Jason Ferguson has taken the decision to suspend Yan Bingtao from attending or competing on the World Snooker Tour with immediate effect.
"This decision is part of an ongoing investigation into allegations of manipulating the outcome of matches for betting purposes in breach of the WPBSA conduct regulations.
"The suspension will remain in place until the conclusion of the investigation or any subsequent charges that may or may not be brought. Yan Bingtao has the right to appeal this decision."
Bingtao, who won the Masters last year, had been due to play in the English Open this week but first-round opponent Ashley Hugill was awarded a walkover.