The agency's last work for the brand will be the upcoming global campaign, "drama on the world stage", due to launch this month.
Magnus Djaba, the chief executive of Saatchi & Saatchi Fallon UK Group, said: "It's always with regret that an agency resigns an account on which it has created great work. But when you no longer share a creative ambition with a client, the time is right to part ways. We wish The European Tour every success for the future."
Saatchi & Saatchi has worked with The European Tour since 2009 and created the "every shot imaginable" campaign, which includes the "gong", "clay pigeon" and "Rory vs the robot" spots.
The ads feature golfing stars taking on impossible shots, such as trying to skim a ball 200 yards across a lake to hit a floating nine-inch gong.
The campaign has received more than 15 million views on YouTube and was used as editorial content by channels such as Sky. It also won awards at Creative Circle, the Campaign Big Awards and the British Arrows.
A spokesman for The European Tour said: "We can confirm that The European Tour is no longer working with Saatchi & Saatchi on the creative development of ad content. We would like to thank Saatchis for their hard work and dedication in working with us.
"A Request For Proposals has been prepared and will be issued shortly to an already chosen list of agencies."