Next the eight-member panel will conduct a hearing on the appropriate punishment for Rangel, who until recently was one of the most powerful members of Congress.
Rangel, a founding member of the Congressional Black Caucus, is not expected to resign.
Rangle was forced to step down earlier this year as Ways and Means chairman after he took trips to the Caribbean that was paid for by corporations.
The 80-year-old was accused in 13 counts of engaging in financial and fundraising misconduct.
The panel found Rangel guilty of using House stationery and staff to solicit money for a New York college center named after him.
It also concluded he solicited donors for the center with interests before the Ways and Means Committee, leaving the impression the money could influence official actions.
He also was found guilty of failing to disclose at least $600,000 in assets and income in a series of inaccurate reports to Congress; using a rent-subsidized New York apartment for a campaign office, when it was designated for residential use; and failure to report to the IRS rental income from a housing unit in a Dominican Republic resort.
The congressman faces a vote condemning his conduct, a possible fine and denial of privileges.
The Associated Press Contributed to this report.