The company behind the show, which stars Mary Berry and Paul Hollywood, has said it has been unable to reach a renewal agreement with the corporation.
Read more: Brands set to benefit from Bake Off’s return
A BBC spokesperson said:
Working with Love Productions, we have grown and nurtured the programme over seven series and created the huge hit it is today.
We made a very strong offer to keep the show but we are a considerable distance apart on the money. The BBC's resources are not infinite.
GBBO is a quintessentially BBC programme. We hope Love Productions change their mind so that Bake Off can stay ad free on BBC One.
According to the Telegraph, Love Productions told staff in an email: “We are writing to let you all know that, with deep regret, after more than a year of exhaustive negotiations we have been unable to reach an agreement with the BBC for the renewal of the Great British Bake Off.”
ITV has been tipped to win the battle to be the next home of the programme, which last year made a star of Nadiya Hussain.
According to the BBC, the Bake Off series final in 2015 became the most watched programme of the year.