The concept was implemented by the Federation Internationale de l'Automobile (FIA) in an attempt to maintain interest in the drivers' championship through to the end of the campaign.
However, the ruling was met with a largely negative reaction from F1 fans, as well as current and former drivers, who felt the regulation was unfair.
As such, the World Motor Sport Council (WMSC) has announced that double points will be scrapped in 2015 ahead of the FIA's annual general assembly meeting in Doha.
This season's epic championship fight between Mercedes duo Lewis Hamilton and Nico Rosberg would have gone to the last race in Abu Dhabi regardless of double points, but the Briton could have lost the title to the German due to the rule.
However, as it transpired, Hamilton won the race and there was no controversial ending to the 2014 season.
F1 has also announced a change to the calendar for 2015, with a provisional slot in place for South Korea in round five - meaning there would be an expanded 21-race season.
The introduction of the Virtual Safety Car (VSC) has also been confirmed after the idea was successfully tested in practice sessions at the end of 2014.
The rule was trialled after Marussia's Jules Bianchi suffered severe head injuries at the Japanese Grand Prix in October.
Explaining the VSC, a statement from the WMSC read: "Following tests of the VSC system at the final events of 2014 the introduction of the system has been approved for 2015.
"The VSC procedure may be initiated to neutralise a race upon the order of the clerk of the course.
"It will normally be used when double-waved yellow flags are needed on any section of track and competitors or officials may be in danger, but the circumstances are not such as to warrant use of the safety car itself."