In a statement, founding members Slash, Duff McKagan, Matt Sorum and Dave Kushner said: "This band is all about its fans and its music and Scott Weiland isn't 100% committed to either. Among other things, his increasingly erratic onstage behaviour and personal problems have forced us to move on."
Weiland, who suffers from bipolar disorder, recently pleaded innocent to a DUI charge.
The 40-year-old singer had also been involved in an online feud with drummer Sorum after he announced onstage that the recent Velvet Revolver European tour would be their last.
Weiland is to reunite with his former band Stone Temple Pilots for a tour this summer.
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