Bahrain's Olympic 1,500 metres gold medallist Rashid Ramzi, who could have his medal stripped, and four other athletes tested positive for the blood booster CERA.
All first-time doping offenders could face a two-year suspension while second-time offenders are liable to a lifetime ban.
“A decision will be taken in December (at the IOC executive board),” senior IOC member Gerhard Heiberg told Reuters.
He said the executive board was not planning to meet in the Danish capital where the IOC holds its annual session later this week but would deal with the issue during a scheduled December meeting in Lausanne.
The positive results came in April after the IOC retested 948 athletes' samples, focusing mainly on endurance events in cycling, rowing, swimming and athletics.
Italy's road race silver medallist Davide Rebellin and German Stefan Schumacher, already banned for doping, were also confirmed positive as were Greece's 2004 Athens Games 20km walk champion Athanasia Tsoumeleka and Croatian 800 metres runner Vanja Perisic.
Weightlifter Yudelquis Contreras was initially tested positive but was cleared after her B sample came back negative.
IOC Medical Director Patrick Schamasch confirmed the IOC would decide by the end of the year.
"A decision will be taken by the end of the year," he told Reuters. If found guilty, their cases would be referred to their respective international federations, responsible for handing out bans.
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