Two of the casualties were tossed from a pontoon at the Thunder River Rapids ride and two others were caught inside.
Enthusiastic Leisure said decommissioning the ride was "the main conscious and fitting game-plan".
Dreamworld, on Queensland's Gold Coast, has been shut since the catastrophe on 25 October.
The firm says it won't revive until a free security survey has been finished.
Kate Goodchild, 32, passed on close by sibling Luke Dorsett, 35, his accomplice, Roozbeh Araghi, 38, and Cindy Low, 42.
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Loved ones have paid tribute to each of the four casualties over the previous week at a progression of memorial service functions.
"Keeping in mind the recollections of Cindy Low, Roozbeh Araghi, Kate Goodchild and Luke Dorsett, and their profoundly influenced families, the ride will be for all time decommissioned," the organization said in an announcement.
The organization likewise arraigned that the casualties' families would be welcome to make a "fitting and lasting" commemoration.