The operator will introduce a deal-based service as a replacement in the new year, according to The Daily Telegraph.
"Commuters and visitors will be able to make use of the internet throughout 2012 and we're in positive talks with potential wholesale partners to ensure a fantastic experience for all Tube passengers throughout 2012 and beyond," said Virgin Media executive Jon James.
Virgin extended its free internet for train travellers in the UK capital after entering wholesale with other service providers, who are hoping to include the service in their package deals.
The complimentary WiFi was originally intended to be in operation during the Olympic Games, but the offer was extended due to the success of the initiative.
More than 661,000 people have taken advantage of the connectivity, which is currently available in 72 stations with more to be brought online by the end of 2012.
To use the WiFi service, London Underground passengers need to connect to the service and register their email address.