Musk said: "Am departing presidential councils. Climate change is real. Leaving Paris is not good for America or the world."
Am departing presidential councils. Climate change is real. Leaving Paris is not good for America or the world.— Elon Musk (@elonmusk) June 1, 2017
As well as electric vehicle manufacture Musk's Tesla also owns Solarcity, which manufactures and instals solar panels for consumers.
Trump today announced his intention to withdraw the US from the Paris climate change agreement, but said he would start negotiations to strike an improved deal on better terms for America.
The Paris agreement was reached in 2015 after an exhausting round of failed international summits. It was hailed at the time as an historic first step on the road to tackling climate change.
Musk had previously said he would serve on the advisory group in order to influence policy, despite his well-known objections to a broad range of Trump's views, including on immigration and climate change.
Before his election last November Trump emphasised his campaign pledge to scrap the agreement. In today's speech, he said: "One by one we are keeping our promises to the American people."
Trump argued the Paris agreement was a burden on jobs in the coal-mining industry and a drag on growth.