Organisers announced the end of the annual music event, which has been running for 13 years.
Over the years it has featured a number of big-name British acts on its line-up, including Ed Sheeran, Fat Boy Slim and Paul Weller.
But now its two founders, Warren Le Sueur and Warren Holt, said they want to "move forward on to separate projects".
They thanked fans for their support.
"It was an absolute pleasure being part of Jersey history and hopefully providing memories that you will have for the rest of your days," they said in a joint statement.
The decision also spells the end for the Folklore Festival, which only returned a couple of years ago.
Jersey's biggest music festival, Jersey Live, has been axed.