Schleck is serving a one-year ban after failing a dope test for the diuretic Xipamide in last year's Tour de France. He has denied knowingly taking a banned substance.
"With the end of Frank Schleck's suspension approaching, Leopard and its partners have assessed the situation in view of a possible renewal of the collaboration with Frank Schleck," the team said in a statement.
"Having finalised this assessment in a broad and objective way, Leopard has decided to not renew the collaboration between Frank Schleck and the Radioshack-Leopard Trek cycling team."
His suspension ends on July 14, while his contract runs until the end of the season.
It was not clear whether Schleck, whose brother Andy rides for Radioshack-Leopard and is on the Tour de France, would ride with the team again.

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