The title owned by Wireless Group celebrated its tenth anniversary in September last year.
The closure follows News Corporation moving to acquire Wireless by for £220m in June last year.
Sport’s last issue will be published next week, it revealed on Twitter.
The statement said: "From the very first issue in September 2006, the team here – both editorial and commercial – have been proud to produce a magazine we always wanted to celebrate all that is special about sport. We love it, and the aim was simply to share that passion with our readers."
It pointed to the first issue ever issue which featured former footballer Thierry Henry.
Scott Taunton, the chief executive of Wireless Group, said: "Our thanks go to the editor Tony Hodson and his team who have made Sport magazine so popular with its readers. We look forward to them producing a cracking final issue."
A message from us. pic.twitter.com/i9NPjUdBOu— Sport Magazine (@SportMagUK) 27 January 2017
This article first appeared in PRWeek sister title Campaign