Netflix says it is cutting ties with Kevin Spacey, adding it will not be involved with House of Cards if the actor remains on the show.
The network also says it will not release the film "Gore", due to be aired next year, in which the Hollywood star plays the writer Gore Vidal.
Production on House of Cards had already been suspended following allegations of sexual harassment and assault against the Academy Award-winning actor.
Netflix said on Friday (3 November) it will work with the show's production company MRC to work out whether the series will continue without him.
Spacey was nominated for best drama actor at the Emmy Awards during each of the show's first five seasons, but has never won.
He played a ruthless politician, Frank Underwood, who rises to become President of the United States. Co-star Robin Wright is also a central player on the show, and it could conceivably continue with a focus on her.
The cancellation of the series comes after Spacey became the latest high-profile figure to be caught up in Hollywood's fast-growing sexual harassment scandal, which began last month when dozens of harassment and rape allegations were reported against film mogul Harvey Weinstein.
Last weekend, US actor Anthony Rapp alleged Spacey made sexual advances toward him in 1986, when Spacey was aged 26 and Rapp just 14.
In a statement, Spacey said he doesn't remember the alleged encounter but apologised if such "drunken behaviour" occurred.
More allegations have since been made against the star, including an alleged sexual assault in 2008 against a man then aged 23 which is now being investigating by police in London.
CNN also reported that eight current or former "House of Cards" workers claim that Spacey made the production a "toxic" workplace and one ex-employee alleges the actor sexually assaulted him.
Spacey has not been arrested or charged with any crime.
Earlier this week, Spacey's publicist said he was "taking the time necessary to seek evaluation and treatment."