The Champions League Twenty20 has been discontinued with immediate effect.
The tournament, which has run since 2009 and featured the top T20 sides from most of the major Test-playing countries, has been cancelled because of "limited public following".
Launched by the cricket boards of India, Australia and South Africa, the competition had an overall prize fund of $6m (£3.8m).
The 2014 title was won by Chennai Super Kings of the Indian Premier League.
"It was a fantastic platform for players from around the world to showcase their talent and the participating teams thoroughly enjoyed the experience over the last six seasons," said Anurag Thakur, honorary secretary of the Board of Control for Cricket in India.
"Unfortunately, off the field, Champions League T20 wasn't sustaining the interest of the fans as we had hoped."
With two wins in total, the Super Kings are the joint most successful side in the competition's history, along with fellow IPL side Mumbai Indians.
The only other two teams to win the title both came from Australia's Big Bash competition.
New South Wales Blues won in 2009 - before the Big Bash was reformatted to feature city-based franchises - and their victory was matched by the Sydney Sixers in 2012, when England one-day batsman Michael Lumb was man of the match in the final.
Five English county sides have competed in the event, with Somerset performing best by reaching the semi-finals in 2011.
However, England did not send teams to the CLT20 in 2010, 2013 or 2014 because of a clash with the end of the County Championship season.