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Anderson's character Billie Jackson will be killed off after an alcohol-fuelled party to celebrate his birthday.
The 23-year-old reprised the role earlier this year as he returned to Albert Square, having originally portrayed Billie from 1993 to 1997. At the same time, Lindsay Coulson also came back to the soap as his on-screen mother Carol.
"Unaware of the disastrous consequences, Carol is insistent on holding a party for her treasured son Billie," a source confirmed. "At the party, Carol makes a heartfelt speech about how her wayward son has turned his life around since joining the army."
Bianca (Patsy Palmer) will discover her brother's "lifeless body" the following morning, surrounded by the remnants of the night before.
Anderson's exit is the latest under former Hollyoaks executive producer Bryan Kirkwood. The actor was previously dropped from the Channel 4 soap amid reports over poor time-keeping.
DS can also confirm that Howard Antony and Mona Hammond will return to their respective roles as Billie's father Alan and grandmother Blossom. Both last appeared in the soap in 1997. They will reprise their roles for Billie's funeral.
> Devon Anderson 'fears EastEnders axe'
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