The cancellation comes after showrunner Terence Winter's departure from the show, which failed to get good ratings in its debut season, The Hollywood Reporter said.
"After careful consideration, we have decided not to proceed with a second season of Vinyl. Obviously, this was not an easy decision. We have enormous respect for the creative team and cast for their hard work and passion on this project," HBO said Wednesday in a statement.
Winter, best known for 'Boardwalk Empire', was let go after overseeing the long-in-the-works drama from executive producers Martin Scorsese and Mick Jagger.
Despite the poor opening numbers of the first episode, HBO had renewed the show for second season but after the series failed to improve its audience base, the network decided to cancel the show.
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