The Hollyoaks star and his professional partner Brianne Delcourt lost out to Hayley Tamaddon and Gary Lucy in the public vote after they performed a new "flying" routine and repeated their favourite dance from the series, 'Ever Fallen In Love (With Someone You Shouldn't've)'.
After hearing the news, Richardson said: "I've had the most amazing experience of my life. I can't thank Jayne [Torvill] and Chris [Dean] enough, the judges, you guys, and Brianne is now a friend for life.
"I hope I've done everyone at Hollyoaks proud and my friends and family."
Tamaddon and Lucy will now each perform a bolero to fight it out for the Dancing On Ice crown.