The annual event had been screened by BBC3 in recent years but the corporation's commitment will in future be limited to radio.
Some of the biggest names in music have performed at the Mobos, with Kanye West, Jay-Z and Amy Winehouse among the artists who have taken to the stage since the awards were launched in 1996.
The BBC confirmed today that its TV commitment was ending, although there had been speculation that the ceremony's days were numbered on television when it was noted the event was not mentioned during an event this summer launching the corporation's music strategy.
The ceremony has been televised by the BBC since 2004, but it is holding its own major music awards event in December. This year's Mobo ceremony is to take place on October 22.
A BBC spokeswoman said: "BBC3 has proudly shown the Mobos since 2004, but with reduced budgets across all genres, the channel has to make difficult decisions about what events it can continue to support and taking costs, viewing figures and audience expectations into account, and the fact that in 2014 the BBC will be featuring its own music awards ceremony, it has decided it can no longer commit to covering the Mobos."
The BBC added that the awards would continue to feature on its networks, including Radio 1, 1Xtra and Radio 2.
The organisers of the Mobos have now signed a deal with ITV which will see coverage of the ceremony on digital channel ITV2, with a highlights show to be screened on the main ITV channel.
Founder of the awards Kanya King said of the three-year deal: "We are very excited that, with our new broadcaster, the awards show will be receiving more support and attention than ever before."
ITV is already the home of the Brit Awards and the Classic Brit Awards.