The reality show followed celebrities battling it out to reach the 71st parallel north along with various other challenges, hosted by Paddy McGuinness and Charlotte Jackson.
Producers have decided to cancel the programme after struggling to sign up enough celebrities to join the show, according to The Sun.
Charlotte Jackson stated that the celebrities found the conditions too "tough".
"It's not coming back," she said. "The scenery is spectacular and it was an amazing experience but it's really tough. I don't think the celebrities realised just how hard it was.
"Watching at home you'd expect the stars would get an extra rug after filming but they were just left sleeping in snow graves.
"John Barnes almost got pneumonia because he sweated on a task and then it froze on him. I was glad to be in a hotel at night with Paddy."
However, the presenting duo will reunite to front The Big Quiz on ITV1 for its Olympic special.
"We filmed it in front of a live studio audience, which I had never done before, and it's girls against the boys which I always think is a good thing.
"I was the team captain for the girls. I had skeleton racer Amy Williams, swimmer Karen Pickering and heptathlete Louise Hazel, while Paddy had footballer Joe Hart, hurdler Kriss Akabusi and swimmer Mark Foster. It was really fun".
Rav Wilding was crowned the second series winner of 71 Degrees North in November.