The singer left halfway through this evening's final live show, leaving Matthew Wolfenden and Jorgie Porter to go on and perform the Bolero and compete for the title.
A fall in his showcase performance cost Chico marks from the judges, with 26 points out of 30 for his routine to the Happy Days theme.
However he scored a perfect 30 after recreating his Sexy And I Know It performance from earlier in the series.
But with the judges' scores not counting this week, it was down the public alone to decide the fates of the skaters, with Chico receiving the fewest votes at the halfway point.
Speaking after his exit, Chico said: "I can't thank everyone enough, this is my other family, the Dancing On Ice family. I've fallen in love with the sport and everyone backstage, on stage, off stage an the people at home. Thank you."
Talking of professional skating partner Jodeyne, Chico added: "This is the most incredible lady."