TV bosses have decided not to bring back the show, which first aired in May and June last year.
A source told The Sun: “Rylan’s show failed to pull in great ratings so bosses have decided to rest it.
‘Up Late With Rylan’ went out at 11pm from Monday to Thursday and featured guests including Alesha Dixon, Keith Lemon, Amanda Holden, Holly Willoughby, Ollie Locke and Katie Price.
But only 235,000 viewers tuned in for the first show and ratings for the rest of the series failed to improve.
Last year, Rylan admitted that he “hated” the first show because “everything went wrong”.
He said: “Monday night – I hated it, I’m not going to lie. Because everything was brand new. The set – everything went wrong.
“I brushed up against the wall – it was that new, I got gold paint up my arm for the first part and people rushing in and wiping me! Yesterday, we watched the show back – Monday, it was a TX pilot really.”
Last year Channel 5’s Director of Programmes Ben Frow hinted the show would be returning to our screens.
He said: “I think it was a great thing to do. He is a truly talented, amazing and very, very nice person.
“I was delighted we were able to pull it off. We’d been talking about it for months so it was great to do it.
“It will come back in some form or other It’s quite a tough gig but I really believe in Rylan.
“Going forward, I do think he’ll be one of the great talent entertainers of the country.”
But Channel 5 have since confirmed the show has been axed.
A spokeswoman said: “Up Late with Rylan ran as part of Channel 5’s Summer of Entertainment and Comedy event last year.
“Rylan is a great talent and we look forward to exploring new formats with him in the future.”
Many were angered by the news the ITV game show was being taken off air to be replaced with Rylan’s new game show ‘Babushka’.
Rylan branded the outrage “ridiculous” in a final message he posted on his account, before taking it offline.
He tweeted: “Getting a bit ridiculous now. Just doing my job. Enjoy the show. Coming off here for a while.”