The royal figure surrenders his title as York's Duke.
The royal is relinquishing his honors, among them the York's Duke, he has stated in a individual message.
He has been under mounting attention over his connections with convicted criminal the financier, with requests for the monarchy to take measures against him.
That now seems to have caused the prince deciding to of his own accord hand back his titles and to relinquish membership of the Garter Order.
In his statement he said he continued to "strongly refute the allegations against me".
"In talks with the sovereign, and my direct and broader family, we have concluded the ongoing accusations about me distract from the duties of His Majesty and the monarchy," said a announcement from Prince Andrew.
"I have chosen, as I always have, to put my obligation to my family and nation first.
"I stand by my choice five years ago to stand back from public life.
"With the King's approval, we believe I must now go a further step. I will therefore no longer use my honor or the awards which have been conferred upon me. As I have said earlier, I firmly dispute the claims against me."
He has been involved in a range of controversies, among them a court case he resolved with the plaintiff, doubts about his economic affairs and his involvement with an suspected foreign agent.
He will remain a royal - but will cease to be the Duke of York, a designation received from his mother, the late Queen Elizabeth.
The prince had already ceased to be a "participating figure" and had lost the use of his His Royal Highness designation and no longer participated at state occasions. His role now will be even more lessened.
His former spouse will be known as Sarah and no longer York's Duchess, but their children will carry on to have the honor of princesses.
Prince Andrew has encountered severe examination over his connections with convicted sex offender the financier, more in recent times featuring doubts about when he had actually severed contact.
In his BBC Newsnight interview, he had said that he had severed all connections with Epstein after they had been pictured together in the city in the end of 2010.
But messages sent in February 2011 later emerged implying that Andrew had confidentially remained in touch with Epstein, such as sending a note: "Remain connected and we'll meet again soon!"
There had been growing displeasure in the royal household at the controversies that remained to plague the prince.
Soon a posthumous memoir by the accuser will be issued which is anticipated to bring further focus on Prince Andrew's association with the plaintiff and Epstein.