He is giving up his titles, such as the the Duke, he has announced in a individual message.
He has been under mounting pressure over his links with convicted criminal Epstein, with calls for the royal household to take measures against him.
That now seems to have resulted in the figure deciding to of his own accord hand back his designations and to surrender involvement of the prestigious order.
In his announcement he said he continued to "vigorously deny the allegations against me".
"In discussion with the monarch, and my immediate and extended family, we have agreed the continued allegations about me divert from the responsibilities of the King and the royal household," said a statement from him.
"I have opted, as I always have, to put my obligation to my relatives and nation first.
"I uphold my resolution five years ago to step back from royal engagements.
"With His Majesty's agreement, we think I must now go a step further. I will therefore no longer hold my honor or the awards which have been granted to me. As I have said previously, I firmly deny the accusations against me."
Prince Andrew has faced a range of controversies, such as a lawsuit he settled with the plaintiff, inquiries about his finances and his association with an alleged foreign agent.
He will stay a royal - but will discontinue to be the the Duke, a honor granted from his mother, the former monarch.
He had already ceased to be a "active member" and had lost the use of his royal style and no longer participated at public engagements. His position now will be even more diminished.
His previous partner will be known as Sarah and no longer Duchess of York, but their children will continue to have the designation of princess.
The royal has encountered strong scrutiny over his associations with convicted sex offender Epstein, more in recent times featuring doubts about when he had actually ended contact.
In his media discussion, he had said that he had ended all connections with Jeffrey Epstein after they had been photographed together in New York in December 2010.
But messages sent in February 2011 later came to light suggesting that Andrew had privately remained in contact with the financier, for example sending a communication: "Stay in contact and we'll play some more soon!"
There had been growing annoyance in the monarchy at the scandals that remained to plague the figure.
Soon a book released after death by Giuffre will be released which is expected to bring more attention on the royal's connection with Virginia Giuffre and the financier.
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