Organisers of the Byron Bay area event, which has been held since 1990, said it "pained them" to announce the April 17 to 20 edition will be the final one.
It follows the shock cancellation of the Splendour in the Grass festival, which was due to be held in July, while other events such as the Falls Festival and Groovin the Moo have also been scrapped.
Bluesfest director Peter Noble declared at the March 2024 edition that the 2025 event would go ahead despite the festival scene's murky future, but announced on Wednesday its time was up.
"To my dear Bluesfest family, and after more than 50 years in the music business, Bluesfest has been a labour of love, a celebration of music, community, and the resilient spirit of our fans," he said.
"But after the 2025 festival, as much as it pains me to say this, it's time to close this chapter."
Soaring costs of live music festivals have made running the events increasingly difficult, with high travel costs, climbing overheads like insurance, extreme weather and the cost of living crisis all factoring into their relative weakness.
Speaking after Splendour's cancellation in March, NSW Music Minister John Graham admitted the events were not in a good way.
"The festival industry is under extreme pressure and I am deeply worried about the health of the festival scene here in NSW," he said.
Bluesfest has not yet announced its 2025 line-up.Â
The 2024 edition featured rock legend Jimmy Barnes' first performance since open-heart surgery last December.
Mr Noble urged fans to make the most of the event while they could and attend April's festival.
"I want to make it the most unforgettable experience yet ... if you've been thinking about it, now is your last chance to experience our beloved festival," he said.
Tickets for the 2025 event are on sale.
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