US News and World Report will go completely online from next year and December will be the print magazine's last issue.
The US News & World Report management said in a memo to its employees on Friday that the print magazine will now exist only to publish eight issues a year focused on topics such its college and graduate school guides.
The magazine would now focus only on the digital format with all its news content available for free on usnews.com.
Brian Kelly, editor of US News, said in the memo, "We're finally ready to complete our transition to a predominantly digital publishing model."
Earlier, the magazine had dropped its weekly format two years ago to go monthly.
The company claimed that its website now averages more than 9m unique monthly visitors.
However, in an interview, Kelly assured that the company would not layoff any more of its employees as a result of the transition.