The show, which averaged between four and five million viewers during its third and final series, pulled in about 1.7 million viewers for its final show, the BBC said.
It suffered the slump after being moved to BBC2 from its normal slot on BBC1 to make way for live coverage of Andy Murray at Wimbledon.
A BBC spokesman said: "Viewers have enjoyed three fantastic series of Robin Hood but with the death of Robin in last week's finale, we feel that the show has reached its natural conclusion."
Nottingham Forest's famed hero is joined by two new maidens later this year when Robin Hood returns for its third series. Life on Mars actress Joanne Frogatt and television newcomer Lara Pulver will join the cast as new girls Kate and Isabella respectively.
"Joining the ranks of Robin Hood has been so much fun," proclaimed Frogatt, who joins Robin Hood’s team as fiesty character Kate. "Kate's a tomboy with a big and fearless heart, but soon it's a question of who will win her undivided love and attention," she explained in a statement.
Also appearing in the new series is Guy of Gisborne's younger sister Isabella, played by Pulver, who causes complications for the team with her spirited, misbehaving ...Read more
From the outset, it's clear just how much money has gone into this big-budget drama. A desert scene, which heralds a military helicopter and a convoy of armed vehicles, speaks volumes of the boldness of the project. You know immediately that what you're watching is in no way a BBC or ITV show, often stunted by financial constraints. Instead, Strike Back is a slick, polished piece of art that could easily dupe viewers into thinking they're watching a war film on the movie channel.
Also brilliant is the talent involved. The book's author, whose name is ...Read more
TV.com: I've just watched the first two episodes of Strike Back and it's incredibly intense. What was that like to film?
Richard Armitage: Oh, brilliant. Yeah, it was fast, exciting, and exhausting. But I think we knew that it had balls, if you ...