In a statement, the network news division said the show won't return, a decision that follows fallout from Kelly's on-air comments about blackface.
NBC News says the hour that had belonged to Kelly will be hosted next week by other "Today" show co-anchors.
The network on Friday again aired a repeat of "Megyn Kelly Today" just as it did Thursday following this week's controversy.
DEVELOPING: More details will be added to this report as they become available.