The IOC executive board decided to retain modern pentathlon -- the event considered most at risk -- and remove wrestling instead from its list of 25 "core sports."
The IOC board acted after reviewing the 26 sports on the current Olympic program. Eliminating one sport allows the International Olympic Committee to add a new sport to the program later this year.
Wrestling, which combines freestyle and Greco-Roman events, goes back to the inaugural modern Olympics in Athens in 1896.
"This is a process of renewing and renovating the program for the Olympics," IOC spokesman Mark Adams said. "In the view of the executive board, this was the best program for the Olympic Games in 2020. It's not a case of what's wrong with wrestling, it is what's right with the 25 core sports."
Adams said the decision was made by secret ballot over several rounds, with members voting each time on which sport should not be included in the core group. IOC President Jacques Rogge did not vote.
Wrestling was voted out from a final group that also included modern pentathlon, taekwondo and field hockey, officials familiar with the vote told The Associated Press. They spoke on condition of anonymity because the voting details were not made public.
The board voted after reviewing a report by the IOC program commission report that analyzed 39 criteria, including television ratings, ticket sales, anti-doping policy and global participation and popularity. With no official rankings or recommendations contained in the report, the final decision by the 15-member board was also subject to political, emotional and sentimental factors.