The players were accused of spot-fixing in the fourth Test between Pakistan and England at Lord's last August, but had always denied any wrongdoing.
All three can appeal to the Court of Arbitration for Sport (Cas) and Butt and Amir have already indicated that they will do so.
"We will appeal the ban once we get the judgement and study it. But we definitely want to clear our names from this ban," Butt said following the hearing.
"Today was the worst day of my life," commented Amir. "Cricket has given me everything and it has been everything and if I don't play it I have nothing. I left education to play cricket and I have nothing other than cricket."
Amir vows to make 'strong' comeback
Butt described the last six months as extremely painful for Pakistan cricket but said the PCB would help the trio with their "education and rehabilitation programme".
He added: "We will also continue to work with the ICC on this sensitive matter."
In a separate inquiry, all three players and their agent Mazhar Majeed have been charged with conspiracy to obtain and accept corrupt payments and conspiracy to cheat by the Crown Prosecution Service.
Majeed is due to appear at City of Westminster Magistrates' Court on 17 March.
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