ITV confirmed the decision this afternoon and Simon Shaps, director of television, will not be bringing the show back in 2007.
"I thought the show was terrifically made and produced and I have nothing but admiration for the people who made it. I just don't think the public appetite as evidenced by the second year numbers was strong enough for us to bring it back for a third year. In the end the numbers weren't strong enough," Shaps said.
'Love Island' finished its second run at the end of August, with the finale attracting a peak audience of 4.2m and an average of 3.8m. 'Love Island' was beaten in the ratings by the BBC's police drama 'Murphy's Law' starring James Nesbitt, which pulled in 5.5m viewers.
The show was won by Callum Best and Bianca Gascoigne, one famous for being the son of a footballer and the other for being the step-daughter of a footballer, who shared the £100,000 prize.
The show became best known for the tantrums of its Z-list stars, which also included bra model Sophie Anderton who has also appeared on ITV1's 'I'm a Celebrity... Get Me Out of Here!' and Sky One's 'Cirque de Celebrite'.
At the time, sources said ITV was now considering a third series that would not involve celebrities and would be more like a 'Big Brother' style format, but with a desert location rather than a Hertfordshire studio.
It is unclear whether this show will now go ahead.
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