The eight-part comedy - which follows a group of amateur paranormal investigators - premiered on Amazon Prime Video in October.
Primarily focusing on broadband installers Gus (Frost) and Elton (Samson Kayo), the episodes followed the duo as they filmed ghost sightings across the UK, sharing their adventures on an online channel for all to see.
Referring to the story arc of the series, the official plot explains: "As they stake out haunted churches, underground bunkers and abandoned hospitals with their array of homemade ghost-detecting gizmos, their supernatural experiences grow more frequent, more terrifying and even deadly, as they begin to uncover a conspiracy that could bring about Armageddon for the entire human race."
In the recent Comedy.co.uk Awards fans voted Truth Seekers on to the Best New TV Sitcom shortlist. It appeared in the nominations alongside King Gary, Mandy, Meet The Richardsons, The Duchess and winner Staged.
Frost revealed the show had been cancelled via a video on his Instagram profile. He confirmed: "Sadly, Truth Seekers will not be returning for a second season", adding the news was "a massive kick in the willy for me."
Thanking the show's fans for their support, he said: "We really put our all into this - our heart and soul, and blood in some cases, so to not come back is really sad for us. I think we had lots of lovely ghost stories to tell... stories that will remain now untold."