Oakley has become the last high-profile sponsor to cut its ties with Lance Armstrong.
A number of companies, including Nike and Trek, last week terminated commerical contracts with Armstrong, and Oakley has become the final sponsor to distance itself from the disgraced American.
The decision comes after the UCI ratified the sanctions imposed on Armstrong by the United States Anti-Doping Agency.
The 41-year-old has now been stripped of his seven Tour de France titles, had all results dating back to 1998 nullified and been banned from cycling for life.
An Oakley statement read: “Based on UCI’s decision today and the overwhelming evidence that USADA presented, Oakley has severed its long-standing relationship with Lance Armstrong, effective immediately.
“When Lance joined our family many years ago, he was a symbol of possibility. We are deeply saddened by the outcome, but look forward with hope to athletes and teams of the future who will rekindle that inspiration by racing clean, fair and honest.”
Oakley will continue to support the Livestrong cancer charity, which Armstrong stepped down as chairman of last week.
“We believe the Livestrong Foundation has been a positive force in the lives of many affected by cancer and, at this time, Oakley will continue to support its noble goals,” continued the statement.