The offer, which allows Orange and EE customers to get two cinema tickets for the price of one on Wednesdays, was launched more than 10 years ago.
The company said that customers' viewing habits had evolved and it was "time to move on", with the promotion ending on the last Wednesday in February 2015.
EE was created from the merger of the UK businesses of T-Mobile and Orange.
"Orange Wednesday launched over a decade ago and at its peak was a massive success and an iconic promotion," the company said in a statement.
"After 10 great years our brand has changed and our customers' viewing habits have also evolved so it's time to move on.
"That's why the final credits will roll for Orange Wednesdays at the end of February 2015. We're working on new customer entertainment rewards and we'll provide more detail soon."
With more and more people watching films on their tablets, phones and TVs at home, the number of people using the Orange Wednesday deal has declined.
It is thought that EE could not reach a commercial agreement with the cinemas.
The mobile company EE is to end its Orange Wednesday cinema deal.