Danny Baker's afternoon show on the BBC's local station for the capital, BBC London 94.9, will be axed at the end of the year.
The Sony award-winning presenter took to Twitter to criticise the decision, telling followers: "BBC asked me not to say anything just yet about axing best show on British Radio. Why? Because it's embarrassing? Because they'll look bad?"
The future of Baker's show was first thrown into doubt last year when the BBC announced sweeping cuts to its local radio budget.
BBC London faces having to make a budget cut of 16% although it is not thought the need to make savings was the main factor in the decision to drop Baker's show.
Station management were believed to be in talks with Baker about presenting a new weekly show but on Thursday Baker tweeted: "By the way – BBC London and I are NOT "in discussion" about a new weekly show. In fact, I haven't heard a single word from them at all."
Gaby Roslin, who co-hosts the BBC London breakfast show with Paul Ross, is also leaving the station.
Baker first presented a show on BBC London in 2001 and has hosted both the breakfast and afternoon show, as well as a Saturday morning slot. He also worked for the station's predecessor, BBC GLR.
He took three months off over the summer to work on other projects. He was commissioned earlier this year to write a Muppets-style chatshow for BBC1.
Baker, who also presents a Saturday morning show on BBC Radio 5 Live, returned to the airwaves in April last year following several months off after he was diagnosed with cancer.
He went on to win speech radio personality of the year at this year's Sony awards.
Baker said on Twitter: "Also. I am being 'inducted' into The Radio Hall Of Fame next week. Big honour. BBC salutes by cutting five sixths of my shows."
In another tweet, in which he pictured himself holding up his Sony awards, he added: "Hey BBC Middle management! Seriously. I'll be fine. Don't feel bad! I can sell these."
Baker's afternoon show is due to finish at the end of this year, when Roslin will also leave the station.
Baker's agent, Alex Armitage, chief executive of the Noel Gay agency, blamed what he described as "savage cuts" at BBC London for the decision to axe the show.
"They obviously don't want to lose him, he is the biggest star they have," said Armitage.
"It's very simple, BBC London is having savage cuts and one of the savage cuts is Danny Baker.
Armitage added: "He adores doing the show. I'm sure that even though one of the best shows on the radio is coming to an end, Danny will go on and do another great show somewhere else."
It is not known who will replace Baker in the afternoon slot, although his departure may spark a wider shake-up of the BBC London schedule.
Changes have already been revealed for the new year, with a new pan-England early evening show, to be presented by Mark Forrest, which will air across all 39 of the BBC's local radio stations in England.
BBC London will also begin broadcasting BBC Radio 5 Live overnight due to the local radio cutbacks, part of former director general Mark Thompson's Delivering Quality First cost-saving initiative.
A BBC spokeswoman said: "Danny Baker will be leaving his afternoon show on BBC London 94.9 at the end of the year. Danny's still very much part of the BBC with his Saturday morning show on BBC Radio 5 Live and we're currently in discussions with him about options for a weekly programme."
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