"Following the loss of our key broadcast partner in the UK and despite an extensive search for alternative funding, we simply have no option but to rest the show," a post to Neighbours' Twitter account read.
"To our amazing, loyal fans, we know this is a huge disappointment, as it is to all of us on the team. We thank you for all your messages and support and promise to end the show on an incredible high. From here on, we are celebrating Neighbours."
More than 60,000 fans signed a petition to try and save the show after it emerged that Channel 5 had pulled out, but it wasn't enough.
"Neighbours is more than just a TV show – it is a source of comfort and entertainment for generations of fans who have watched it for decades," the change.org petition said.
Neighbours draws around 1.5 million UK viewers daily, and up to 170,000 metro viewers in Australia.
According to The Sun many famous actors have been asked to return to the show to ensure it goes out on a high.
Kylie Minogue and Jason Donovan, both 53, who played Charlene and Scott Robinson, have been approached to return.
The newspaper reported that Neighbours legend Ian Smith, 83, has already agreed to make his emotional comeback as Harold Bishop, and Peter O'Brien, 61, who appeared in the soap's very first episode back in 1985, will reprise his role as Shane Ramsay.
It also reported Natalie Imbruglia, 47, who rose to fame playing Beth Brennan in the 1990s, has already said she would go back.
