Customers who have already bought tickets will be refunded.
Stagecoach, which runs the Oxford Tube, says passenger numbers have dropped substantially since the Government guidance was issued on all non-essential travel.
The public are being told to stay at home and only travel unless absolutely necessary top stop the spread of COVID-19.
The Oxford Tube services running to London will be suspended on Sunday 5 April.
The majority of other local bus services also operated by Stagecoach will continue to run on revised timetables with a focus on ensuring that key workers can still get to work.
Chris Coleman, Managing Director at Stagecoach in Oxfordshire said: "We firmly believe that the decision to temporarily suspend services on the Oxford Tube is now the right one based on the current unprecedented circumstances and we hope our customers understand this.
"We will continue to review and we hope to welcome our customers back on board when the situation improves.
"Our local services across Oxford will continue to run to a reduced timetable providing a service for key workers to get them where they need to be."
Following changes to the city services last weekend, the company is introducing further reductions on services from Woodstock and Witney/ Carterton to Oxford and a small number of city services also from this weekend.
Chris Coleman added: "I'm extremely proud of the whole team in Oxfordshire and I would like to thank all of our staff and customers for their continued support and resilience in these challenging times."
For more information on timetables, click here.
Customers with tickets booked through Oxford Tube are being told to contact email@example.com for a refund.