The former Mayor of London is understood to have been let go after eight years with the station over the claims Hitler was a Zionist before he “went mad and ended up killing six million Jews”.
After MPs demanded action he was suspended pending an investigation for “bringing the party into disrepute”.
Today the company owns LBC, Global, confirmed it had severed ties with the disgraced politician.
A spokeswoman said: “Ken Livingstone is not currently presenting on LBC and will not be returning to the station at the end of his contract.”
Speaking to the Telegraph, a defiant Mr Livingstone claimed he had been “sacked for telling the truth”, adding: “They just think there’s a lot of controversy surrounding me. But that’s actually one of the reasons people listen to the programme. They want someone boring who can bring the listening figures down.”
The Campaign Against Anti-Semitism said the move to fire Mr Livingstone followed pressure from the organisation.
Communications director Jonathan Sacerdoti said: “We applaud them for heeding our calls.
“Having offended Jewish people, and others committed to decency and anti-racism, Ken Livingstone proceeded to repeat his comments as widely and frequently as possible in the media.
“Global has now removed his most prominent outlet for doing so.”
Mr Livingstone has not been presenting his normal Saturday morning show with former politician David Mellor in recent weeks because of impartiality rules governing broadcasters in the run-up to the EU referendum.