The ban is now set to go into “full effect”, although it is not clear on what timescale this will happen.
Legal challenges against the controversial measure are still making their way through the US courts, and have not yet reached the Supreme Court.
Challenges by the state of Hawaii and the American Civil Liberties Union said the latest ban, as in its earlier iterations, discriminates against Muslims in violation of the US Constitution and is not permissible under immigration laws.
However it will nonetheless go into full effect as the legal proceedings continue.
The ban will prevent citizens of six majority-Muslim countries from entering the US.
It applies to travellers entering the US from Chad, Iran, Libya, Somalia, Syria and Yemen.
Lower courts allowed parts of the ban to go into effect in June.
People from the targeted nations with strong ties to the US – for example if they had relatives who lived in the country or were US citizens – could not be kept from entering the country.
However the stronger version of the ban will apply, preventing all travel from citizens of the six countries.
The ban also covers people from North Korea and certain government officials from Venezuela, but lower courts had already allowed those provisions to go into effect.
The Supreme Court approved the motion with just two dissensions, by Ruth Bader Ginsburg and Sonia Sotomayor.
The two dissenting justices would have left the lower court orders in place.
Trump issued his first travel ban targeting several Muslim-majority countries in January, then issued a revised one in March after it was blocked by federal courts.
The second one expired in September after a long court fight and was replaced with the present version.
The San Francisco based 9th US Circuit Court of Appeals and the 4th US Circuit Court of Appeals in Richmond, Virginia, will hear arguments on the legality of the ban this week.
Both courts are dealing with the issue on an accelerated basis, and the Supreme Court has said it expects a quick decision.
A final Supreme Court decision on whether the ban is constitutional is likely by the end of June 2018.