The Old Vic theatre's experimental performance space in the railway arches below Waterloo Station is to close in mid-March.
Over the last three years the Leake Street venue has hosted a range of exhibitions, films and immersive theatre shows.
The space has also been used for political rallies and a fundraising party hosted by former US president Bill Clinton.
"Our time at the Tunnels will draw to a close on 15 March," says an announcement on the venue's website.
"The Tunnels was an adventurous and exciting project which started as a temporary event and performance space in 2009 with the inaugural show Tunnel 228.
"Since then, The Tunnels earned a reputation as one of the most creative spaces in London. We have three great years to look back on, and are proud of the remarkable range of events and productions that we have presented in the space."
Two years ago Old Vic artistic director Kevin Spacey collected a Big Society award from prime minister David Cameron in recognition of the tunnels' success. At the time Mr Spacey said he was "excited about the long-term future of this unique space".