Amol Rajan said on Twitter that the show was ending and that the cost of the programme was "deemed too high".
He said: "The Victoria Derbyshire Show is coming off air. I understand @BBCNews is committed to Victoria + the (award-winning) journalism of the show.
Rajan also highlighted the impact of the show, which began in 2015.
"The show won awards at the RTS and from BAFTA," he said.
"Victoria nominated for Best Presenter 4 years in a row - and won once.
"Digital impact was huge. Show was designed to reach audiences the BBC struggles to connect with, and it did - online."
MP Tracy Brabin was among those to comment, tweeting that she would be "looking into why @VictoriaLIVE is being taken off air".
She said: "Rigorous campaigning & commitment to public having their say made it pretty unique in daytime TV.
"Victoria herself was sharp & approachable with a personal journey that made her relatable."
Piers Morgan said: "Very strange decision. It was an excellent programme & @vicderbyshire is a superb journalist.
"Surely the BBC isn't now finding the cash to pay for its gender pay fiasco by cancelling other women's shows?"
The BBC declined to comment.