Hosted by the 42-year-old "How I Met Your Mother" star, the show was based on the long-running UK series "Ant and Dec's Saturday Night Takeaway," reported Variety.
NBC won't cut ties with Neil Patrick Harris though and is planning to work on new projects through their deal with the Emmy-winning actor's Prediction Productions.
"We are extremely proud of the work Neil and the producers did on 'Best Time Ever'. People rewarded us for taking the risk of trying something different. It was an incredibly complicated and sophisticated form of television to put on a live show on a weekly basis.
"Best Time Ever" was produced by ITV America.
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