The Time Warner-owned network will stop using Reuters text, photography and television material from today, after 27 years.
CNN said it wanted to reduce reliance on agency material and own more of its content, giving it greater control over editorial product.
Nigel Pritchard, CNN spokesman, said: "This is all about us, not Reuters. This is about content ownership.
"Everything is changing and content ownership is king."
Pritchard did not specify how much CNN would spend to expand its news operation but the company said it would be a multimillion-dollar investment.
CNN denied the decision was as a cost-cutting exercise, but Chris Ahearn, president of Reuters Media, said in an internal memo that no commercial agreement could be reached with CNN after "a period of extensive discussions."
He said: "In no way is this a reflection of the value placed upon Reuters editorial quality by CNN or the work that Reuters has done for them. We are hopeful that we will have the opportunity to work with CNN again."
Both companies declined to confirm the value of the deal, but sources familiar with the matter said Reuters was paid less than $10m (£5m) a year by CNN.
CNN will continue to use news provided by the Associated Press and Associated Press Television News, which compete with Reuters.
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