Utility back Beale will leave the Waratahs for a second spell in Europe, having played for Premiership side Wasps in the 2016-2017 season.
Beale has won 92 caps for the Wallabies, so the 31-year-old will still be eligible to play for his country.
The playmaker has signed a two-year deal with Top 14 giants Racing and will move to Paris when the Super Rugby season, which has been suspended due to the coronavirus crisis, ends.
Waratahs captain Rob Simmons said of Beale's decision to move on: "That's huge news for us. We're going to miss him.
"A player like that, he's got great experience, he's done a lot for this club, he is the most capped Waratah in history, so to lose someone like that is huge and I suppose this next little bit in this competition, whatever does get off the ground, it will be a good chance for him to send us off."
Flanker Jones will also ply his trade in the French capital next year after spending the past two seasons with the Rebels.
The 29-year-old spent three years with Bordeaux Begles before returning to Melbourne last year.
Racing sporting director Yannick Nyanga said: "We've tried to mix youth and experience in positions where we haven't managed to pull through from our academy.
"We have two premium signings who will bring some experience and their ability."