The drama series had been scheduled to begin on the channel sometime in March. However, the network issued a statement yesterday indicating that it will no longer be airing the show.
According to USA Today, the channel claimed: "This dramatic interpretation is not a fit for the History brand."
The network did acknowledge the high standard to which The Kennedys had been produced, but failed to further elaborate on its decision to drop the show.
The eight-part series, which stars Holmes as Jackie Kennedy opposite Greg Kinnear as US President John F. Kennedy, has already received criticism for a number of historical inaccuracies.
The Kennedys will continue to air internationally, although it is unknown whether another US broadcaster will pick up the show following the History Channel's decision to pull out.