The series saw Meyers as the eponymous vampire, posing as an American entrepreneur in Victorian London, reported Deadline.
'Dracula' had been a passion project for NBC chairman Bob Greenblatt, who reportedly pursued Meyers aggressively to accept the role.
Never a ratings hit, the show had consistent but unimpressive numbers after a strong debut in October.
It joins several other NBC shows that have been axed in recent days, including 'Revolution' and 'Community'.
Meanwhile, the network has ordered several new shows including Will Ferrell's 'Mission Control'.
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