A Hong Kong court gave the order Monday morning.
It comes after the world's most indebted developer was crushed by more than $300 billion in liabilities.
The firm defaulted on its debts back in 2021, throwing the country's whole property market into turmoil.
Now the liquidation order is likely to deepen the crisis in the sector, and jolt China's fragile capital markets.
Beijing was already grappling with an underperforming economy and stocks wallowing near five-year lows.
Now any new hit to markets could undermine revival efforts, and ramp up demands for more stimulus measures.
Evergrande had been working on a $23 billion debt revamp plan with bondholders.
But those efforts were scuppered last September when billionaire founder Hui Ka Yan was put under investigation for suspected crimes.
A liquidation petition was first filed back in June 2022, but the proceedings were adjourned multiple times as Evergrande scrambled for a survival plan.
At least three other developers have already been ordered to liquidate by Hong Kong courts.
