Johnny Harris confirmed to SFX that the corporation decided against ordering more episodes of the supernatural drama.
Fellow cast member Iain de Caestecker had previously set out his hopes for a second series to be commissioned.
Penned by Skins writer Jack Thorne, the show also starred Daniel Kaluuya, Lily Loveless, Tom Ellis, Johnny Harris, Daniela Nardini, Claire Rushbrook and Natalie Dormer.
As well as positive reviews, The Fades pulled in strong audience figures for the channel last September, and performed well on iPlayer.
Centring around teenager Paul, the show culminated with him saving the world from an apocalypse.