Daredevil's cancellation follows after the axing of Iron Fist and also Luke Cage last month.
"Marvel's Daredevil will not return for a fourth season on Netflix," says the global video streaming service in a statement.
"We are tremendously proud of the show's last and final season and although it's painful for the fans, we feel it best to close this chapter on a high note."
"We're thankful to our partners at Marvel, showrunner Erik Oleson, the show's writers, stellar crew and incredible cast including Charlie Cox as Daredevil himself, and we're grateful to the fans who have supported the show over the years," says Netflix.
"While the series on Netflix has ended, the three existing seasons will remain on the service for years to come, while the Daredevil character will live on in future projects for Marvel."
The cancellation leaves only Marvel's Jessica Jones and The Punisher as series on Netflix with no word yet on whether they're cancelled or will see further seasons.
The third season of Jessica Jones will become available on Netflix in 2019 along with the second season of The Punisher.
