The broadcaster is one of the UK's most high-profile outdoor advertisers, and the change in strategy is part of its plans to scale back its marketing profile.
The news will come as a disappointment to the outdoor industry, which uses the BBC's permanent hoardings as a successful case study.
The main beneficiaries of the BBC's deal were Clear Channel, Maiden Outdoor and JC Decaux, which each had about 300 large-format sites. Premium contractor Van Wagner had other sites.
The deal, which gave the BBC £20m-worth of media space, was negotiated in 2002. The BBC outbid Channel 4 for the contract, which offered £5m for a smaller number of sites.
The sites had worked as 'notice boards' for the BBC, and enabled it to advertise its wide range of programmes and channels.
Following director-general Mark Thompson's wide-ranging review of the BBC, marketing is to be significantly reduced, and the outdoor deal is the first sacrifice.
A spokeswoman for the BBC said: 'The contract is up for renewal in the summer and the BBC will be reviewing its options.' She added that the broadcaster would not be completely exiting the outdoor medium.
As part of Thompson's scheme to create a simpler, more creative BBC, about 120 of the corporation's 480 marketers are to lose their jobs. This will be the first task of the BBC's yet to be appointed marketing director, replacing Andy Duncan who left to become chief executive of Channel 4 last year.
Brands take up outdoor pursuit, page 21.
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