The 51-year-old former 'Full House' star was slated to star in 'Members Only', a drama scheduled to air on America's ABC network as a mid-season replacement next year.
However, studio bosses have decided to scrap the show, despite receiving a full-season order in January, reported Ace Showbiz.
'Members Only' was an "upstairs/downstairs" drama set in a Connecticut country club, where Stamos was a billionaire member, along with his wife, played by Natalie Zea.
The show also starred 'Breaking Bad' star Betsy Brandt, and was created by 'Erin Brockovich' scribe Susannah Grant.
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