The series followed a group of girls at Kappa Kappa Tau, a sorority house at the fictional Wallace University, who try to survive a serial killer who uses the university's Red Devil mascot as a disguise.
Scream Queens only raked in 2.3 million viewers during season two's run and Entertainment Weekly report only 1.0 rating from adults 18 to 49.
The cast also included Billie Lourd, Abigail Breslin, Niecy Nash, Keke Palmer, John Stamos, Taylor Lautner and Kristie Alley.
Scream Queens is not the only programme to be axed by Fox after a number of hit shows including Sleepy Hollow and Rosewood which will not returning in the autumn.
Fox also announced the hit Zooey Deschanel series New Girl will be returning for one final season before it comes to an end.