Elliott, the cousin of Mark and Jessica Wright, confirmed he would bow out of the show after two years.
During Wednesday's episode of TOWIE, he tweeted: "I would like to thank #LimePictures and @OnlyWayIsEssex cast and crew for an amazing 2 years... It's been an experience I will never forget!
"And thank you to everyone that's followed my journey and for all your support. After lots of consideration, I've decided to call it time for me on Towie and concentrate on my business ventures and other projects."
Elliott, who joined the show in series 10 in 2013, is currently in Marbella launching his brand new restaurant, Olivia's La Cala.
He moved to Marbella following the end of series 14 after announcing to on-off girlfriend Chloe Sims that he was relocating away from Essex to focus on his new business venture.
Elliott asked Chloe if she'd come out to Spain with him, but during the break from filming, the couple broke up.
For the 15th series of TOWIE, which aired this month, the cast went to Marbs to film two special episodes.
Elliott featured in both episodes, and he rekindled his romance with Chloe, with the pair spending most of their time together for the duration of the holiday.
Elliott's last scene was aired last week in the second Marbella episode.
Viewers saw fireworks between Elliott and James 'Lockie' Lock after Elliott said he didn't appreciate comments Danielle Armstrong had made about his behaviour towards Chloe. However, Elliott later slammed the editing, saying it didn't make sense.
The argument ended in Elliott walking away, shouting: "You lost a mate." But in Wednesday's episode, viewers saw Lockie leaving a message on Elliott's phone to clear the air.
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