The 54-year-old claimed the party, under anti-Islam leader Gerard Batten, was “turning a blind eye to extremist politics”.
Speaking on his radio show on LBC, the anti-Brussels stalwart said: “I don’t recognise the party as that I helped to found all those years ago.
“I think the brand is tarnished. It cannot capitalise on the opportunities being presented to it.
“So with a very great reluctance, I have as of now, cancelled my membership of UKIP.”
Mr Farage, who tried and failed seven times to become a Ukip MP and is still an MEP for the party, said there was a “huge space” for a Brexit party in British politics but claimed it “won’t be filled by Ukip”.
FOLLOW THE LINK FOR THE FULL REPORT – JR