Terry was acquitted of calling Ferdinand a "f****** black c***" during a Premier League Game on October 23 last year.
He had admitted using the words, but insisted he had only been repeating words he thought Ferdinand had accused him of saying.
The FA's decision to press ahead with their own charges infuriated Terry to the extent that on the eve of the disciplinary hearing he announced he was quitting international football with immediate effect, saying his position was "untenable".
John Terry has 14 days to lodge an appeal from receipt of the written reasons for the decision today.
– Chelsea Football Club
Chelsea Football Club notes and respects today's decision by the Football Association regarding John Terry.
We also recognise that John has the right to appeal that decision.
It is therefore inappropriate for us to comment further on the matter at this time.
The FA find John Terry guilty and give him a 4 match ban and 220K fine. Just one game more than a regular red card?
Not quite sure why Terry gets just a 4-match ban for worse racist abuse than Suarez, who got an 8-match ban? http://t.co/zm5dremP
John Terry's representatives, Elite Management, have released a statement on his behalf:
Mr Terry is disappointed that the FA Regulatory Commission has reached a different conclusion to the clear not guilty verdict of a court of law.
"He has asked for the detailed written reasons of the decision and will consider them carefully before deciding whether to lodge an appeal.
A statement from the Football Association said:
An Independent Regulatory Commission has today [Thursday 27 September 2012] found a charge of misconduct against John Terry proven and has issued a suspension for a period of four matches and a fine of £220,000, pending appeal.
The Football Association charged Mr Terry on Friday 27 July 2012 with using abusive and/or insulting words and/or behaviour towards Queens Park Rangers’ Anton Ferdinand and which included a reference to colour and/or race contrary to FA Rule E3 in relation to the Queens Park Rangers FC versus Chelsea FC fixture at Loftus Road on 23 October 2011.
The charge was the result of The FA’s long-standing investigation into this matter, which was placed on hold at the request of the Crown Prosecution Service and Mr Terry’s representatives pending the outcome of the criminal trial.
A hearing took place from 24-27 September 2012 before an Independent Regulatory Commission of The FA to consider the charge.
The decision of the Independent Regulatory Commission is as follows
John Terry has been found guilty of racially abusing QPR defender Anton Ferdinand. The former England captain has been fined £220,000 and been given a four-match ban.
Three boxes full of paperwork have left Wembley Stadium, but there is still no comment on whether a decision has been reached at the hearing into allegations of racism against former England captain and Chelsea footballer John Terry.
The 31-year-old defender also left the stadium a short while ago.
The Football Association's hearing into allegations of racism against former England captain and Chelsea footballer John Terry continues into a fourth day today.
The disciplinary hearing, which started on Monday, could return a verdict today at Wembley Stadium.
In July the 31-year-old was cleared at Wesminster Magistrates' Court of racially aggravated public behaviour towards QPR defender Anton Ferdinand after an altercation during a match last October.