The Duke of York relinquishes his honor as York's Duke.
The royal is giving up his designations, including the York's Duke, he has declared in a individual message.
He has been under growing attention over his connections with sex offender Jeffrey Epstein, with calls for the royal household to take measures against him.
That now looks to have led to the figure deciding to voluntarily hand back his titles and to relinquish membership of the prestigious order.
In his announcement he said he continued to "firmly deny the allegations against me".
"In talks with the monarch, and my close and wider family, we have decided the persistent allegations about me distract from the duties of His Majesty and the royal household," said a announcement from Prince Andrew.
"I have chosen, as I always have, to put my duty to my kin and country first.
"I stand by my decision five years ago to step back from official duties.
"With His Majesty's approval, we believe I must now go a further step. I will therefore no longer use my honor or the distinctions which have been conferred upon me. As I have said before, I firmly dispute the allegations against me."
He has been involved in a range of issues, among them a court case he ended with the plaintiff, questions about his finances and his involvement with an suspected intelligence operative.
He will remain a prince - but will discontinue to be the Duke of York, a title bestowed from his mother, the Queen Elizabeth II.
He had already ended to be a "participating figure" and had lost the use of his HRH title and no longer was seen at public engagements. His role now will be even more reduced.
His former spouse will be known as Sarah and no longer Duchess of York, but their children will carry on to have the designation of royal princess.
He has been under intense scrutiny over his associations with disgraced financier the financier, more in recent times including doubts about when he had actually cut off contact.
In his BBC Newsnight interview, the royal had said that he had ended all connections with Epstein after they had been photographed together in the city in the end of 2010.
But messages sent in early 2011 later emerged implying that the prince had confidentially stayed in touch with Epstein, such as sending a communication: "Remain connected and we'll have further interactions soon!"
There had been growing frustration in the monarchy at the scandals that continued to plague the royal.
Next week a book released after death by Giuffre will be issued which is expected to draw further scrutiny on the royal's connection with Virginia Giuffre and Epstein.