The magazine will stop publishing new content after its next issue. Any new issues will feature previously released content with a new cover, reports the BBC.
It will also now only be available in comic stores and to subscribers.
Many fans responded to the news to share their disappointment. Some described how influential the magazine had been growing up.
Mad Magazine was known for its striking front covers, in which it parodies both current affairs and popular television programs. It often featured the magazine's gap-toothed child mascot Alfred E. Newman on the cover.
The magazine was founded in 1952 and began life as a comic book before changing to a magazine format in 1955.
DC, which publishes the magazine, told ABC in a statement: "After issue #10 this fall there will no longer be new content - except for the end of year specials which will always be new. So starting with issue #11, the magazine will feature classic, best of and nostalgic content from the last 67 years."
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