A recent event at the end of August left at least 30 soldiers injured.
At least 24 cadets were reported to have been left unconscious because pillows were stuffed with hard objects.
West Point Superintendent Lt Gen Robert L Caslen said the academy was pursuing unspecified disciplinary measures against those involved in the fights.
He was quoted in the New York Times as saying that those facing such measures included "senior military members and cadets alike".
Gen Caslen was not reported to have identified or provided the ranks of those who may be punished, but said he was determined "to send a clear message that this kind of behaviour will not be tolerated".
An army investigation dated the pillow fights to 2001, but congressional testimony reported in the New York Times suggests they date back more than a century.
One cadet suffered a broken nose in the August pillow fight, while others had dislocated shoulders.
West Point academy argued at the time the fight was designed to build "esprit de corps". None of the injuries was severe and all cadets have returned to duty, it said.
Video of the fight posted online shows crowds of yelling cadets, some wearing body armour as well as helmets, surging together in a central quad.
The annual night-time event has been described as a harmless way of blowing off steam at the end of a gruelling summer of training.
But this year's event seems to have been a little over-exuberant, with pillow cases reported to have been stuffed with hard objects, thought to have been helmets.
A report into the incident cited by the New York Times said that the injuries were largely caused by cadets being struck by "elbows or other body parts" or from being knocked down.

Shops and 60 homes were evacuated after the crane toppled and came to rest against the former Primark building in Reading at 13:50 BST on Saturday.
The council has had to provide alternative accommodation for 49 people so far, with others staying with family or friends.
No-one has been reported injured.
The crane is being stabilised by Berkshire Fire Service and emergency services were at the scene in West Street overnight and will continue to be so into Sunday.
Fifty members of staff from emergency services and Reading Council remain at the scene.
Huge pillow fights among US cadets to mark the end of summer training at the prestigious West Point military academy are to be banned, officials say.
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People were rehoused for the night and roads remain closed after a 60m crane overbalanced in a town centre.