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Decision will be appealed.
The Uber app has completely changed the London minicab and taxi market. As a "disruptive" technology it was popular and cheap.
But although Uber claims 3.5m Londoners use the app and there are 40,000 drivers, the company has been dogged with controversy in London.
It has been blamed for congestion, failing to report sexual offences, not doing proper criminal checks and a rise in collisions.
It has also been criticised by unions for poor working conditions of drivers.
Right up until the last minute, even the black cab organisations which have been fighting Uber since their arrival in 2012 were not certain they had won.
So this is a big shock to the industry and it will reverberate right around the world where the company is trying to operate.
This decision will be appealed and eventually probably go through the courts so it's not quite over for Uber in London yet.