The flanker has been banned for three weeks for a dangerous tip tackle in Fiji's 49-3 loss to South Africa in Wellington.
Waqaniburotu, who has 48 hours to appeal, would also miss the quarter-finals should the Fijians get there.
A statement from RWC organisers read: "With respect to the sanction, the offence was deemed to be mid-range (which has an entry point of six weeks).
"However, taking into account mitigating factors including his admission, his excellent disciplinary record and remorse and the absence of aggravating factors, the player was suspended for a period of three weeks."
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The entire All Blacks apparel line has been updated for 2013/14. Check out the New Zealand All Blacks polo.
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