The suspension of Trump's channel came after comments that he made at a news conference, which was streamed on the platform on Tuesday morning, the company said.
Youtube's action against the president comes after US civil rights groups told Reuters that they were set to organize an advertiser boycott against the company if it does not remove Trump's channel.
Supporters of Trump stormed the US Capitol on Wednesday, trying to halt the certification by Congress of president-elect Joe Biden's election win.
Trump, who has challenged the validity of Biden's victory without producing evidence, initially praised his supporters but later condemned the violence.
Lawmakers were forced to flee as the building was mobbed by protesters who overwhelmed security forces. Five people died in the violence, including one Capitol Police officer.
After the incident, Twitter and Facebook removed Trump's accounts and have been eliminating content supporting last week's assault, while Amazon.com Inc suspended Parler, a social media platform favored by many supporters of Trump, from its web hosting service.