Jaguar Land Rover (JLR) said it had ended discussions with the owner of the circuit "for the foreseeable future".
The Telegraph has also reported that entrepreneur Laurence Tomlinson has also given up on securing a deal to invest in the site.
Circuit owner British Racing Drivers' Club (BRDC) said it would not comment.
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JLR was thought to have offered the prospect of injecting Â£33m into the home of British motor racing in return for a 249-year lease on the circuit.
But in a statement, the company said: "Jaguar Land Rover has ended discussions with the British Racing Drivers' Club for the foreseeable future and is not proceeding with any plans to either lease or purchase Silverstone at this time."
The first Grand Prix (GP) took place at Silverstone in 1950 and the race track has regularly hosted GPs since the start of the F1 championship in the same year.
A question mark has been put over the future of Silverstone racing circuit in Northamptonshire after a potential buyer pulled out of sale talks.