It was not immediately clear whether Zuma would return to jail, with prison authorities saying they were studying the judgement and would seek legal advice.
Zuma was sentenced in June 2021 after refusing to testify before a panel probing financial sleaze and cronyism under his presidency — but was freed on medical parole just two months into his term.
In November last year, an appeals court found the release was illegally granted and ordered the now 81-year-old back to the Estcourt Correctional Center in the eastern KwaZulu-Natal province.
South Africa's prison service, which had granted Zuma's conditional release, appealed the decision.
But the bid was dismissed by the Constitutional Court, which on Thursday said it had "no reasonable prospects of success".