The royal figure gives up his title as York's Duke.
Prince Andrew is surrendering his designations, among them the Duke of York, he has declared in a individual message.
He has been under growing attention over his connections with disgraced financier Epstein, with requests for the royal household to take steps against him.
That now looks to have led to the royal deciding to willingly hand back his designations and to give up participation of the Garter Order.
In his announcement he said he continued to "firmly dispute the claims against me".
"In talks with the monarch, and my direct and extended family, we have agreed the ongoing allegations about me take away from the responsibilities of His Majesty and the royal household," said a announcement from Prince Andrew.
"I have opted, as I always have, to put my obligation to my kin and country first.
"I support my resolution five years ago to step back from royal engagements.
"With the monarch's consent, we think I must now go a additional measure. I will therefore no longer hold my designation or the honours which have been bestowed on me. As I have said previously, I strongly refute the allegations against me."
The royal has faced a series of scandals, including a court case he settled with an accuser, inquiries about his money matters and his connection with an suspected foreign agent.
He will stay a royal - but will discontinue to be the the Duke, a honor granted from his mother, the former monarch.
The prince had already stopped to be a "working royal" and had lost the use of his HRH title and no longer appeared at state occasions. His status now will be even more lessened.
His former spouse will be known as Sarah and no longer York's Duchess, but their children will carry on to have the title of royal princess.
Prince Andrew has been under intense examination over his links with notorious figure Jeffrey Epstein, more in recent times including inquiries about when he had actually severed ties.
In his media discussion, Prince Andrew had said that he had severed all links with the financier after they had been photographed together in NYC in the end of 2010.
But correspondence sent in the following year later emerged implying that Andrew had privately stayed in communication with him, for example swapping a note: "Stay in contact and we'll have further interactions soon!"
There had been increasing displeasure in Buckingham Palace at the scandals that remained to plague the prince.
In the coming days a book released after death by the accuser will be released which is expected to bring further focus on Prince Andrew's association with the plaintiff and the financier.
