The 48-year-old actress said she is opting out of the judging panel of the Colors reality show to concentrate on another project on the channel.
"I have been on Jhalak for three years now and I am taking a break to focus on other projects. I will be back shortly with probably something even more exciting. I wish Jhalak the very best for a spectacular season," Madhuri said in a statement.
"Madhuri has been the face of Jhalak Dikhhla Jaa for years now and we will surely miss her presence and her expertise on the show and we are keen on continuing our relationship with her and our team is exploring a show that will suit her persona," he said.
"Haider" star Shahid Kapoor's name has cropped as the possible replacement to Madhuri on the show, where celebrity contestants fight it out on the dance floor with their choreographer partners.