The True Grit and Social Network producer and signed a contract with the cable network for the development of several new shows, including an adaptation of the bestselling novel The Art of Fielding.
Representatives of the producer told Deadline that Rudin was seeking "more flexibility" in the deal.
"You know how full they are," Rudin's rep told the publication. "He wants to sell elsewhere."
However a source has suggested that the deal ended because the producer and HBO clashed on the development of several series.
The source alleged: "HBO is so tired of Scott Rudin's antics that they terminated his overall deal yesterday."
Rudin's representative has strongly denied the anonymous insider's claims.
HBO recently passed on a Rudin-produced pilot for The Corrections, starring Ewan McGregor, Maggie Gyllenhaal, Rhys Ifans and Dianne Wiest.
There is no word yet on whether the collapse of the deal will affect Rudin's other shows, which include The Newsroom.
Rudin is an executive producer on the show alongside creator Aaron Sorkin, a frequent collaborator.
Watch a trailer for The Newsroom below: