The French-owned cinema group UGC will now refuse to show the ad at any of its 43 screens in the UK.
In the cinema-only ad, Mayall mimics Hitler's sieg heil salute, shouting: "Ein Volk! Ein Reich! Ein Euro! (One people, one Reich, one euro)".
It has already drawn criticism from groups such as the British Board of Jews and Britain in Europe. The European Commission branded it "in appallingly bad taste".
UGC said that it had taken the decision not to screen the anti-euro spot because it does not show ads of a political nature. However, it also described the ad as being "of an offensive nature".
Other stars to have lent their support to the anti-euro campaign include Sir Bob Geldof, Harry Enfield and Vic Reeves.
Mayall has defended his portrayal of Hitler in the ad, pointing out that his wife, Barbara, is Jewish.
If you have an opinion on this or any other issue raised on Brand Republic, join the debate in the .