The channel said it is discussing potential new show formats with Stewart's company, Living Omnimedia.
The production costs for the daily cooking and lifestyle show was too expensive for its small audience of about 200,000 viewers.
The home and lifestyle maven will host her last episode of "The Martha Stewart Show" in May, although repeats will continue to run through the summer.
On her website, Stewart said she's had a successful TV presence for nearly two decades and expects to continue with other projects.
