This includes all book rentals, purchases, and pre-orders, said the tech giant.
Microsoft will allow users to continue reading books they've already purchased until July 2019, at which point these users will receive a full refund for their purchase.
"If your original payment method is no longer valid (or if you used a gift card), you'll receive a credit back to your Microsoft account to use online at the Microsoft Store," said Microsoft.
Users who have used mark-up annotations in their ebooks will also lose access to these notes, although Microsoft has committed to giving these users an additional once-off $25 credit when ebook refunds are processed.
According to ZDNet, Microsoft's justification for this move is that it is attempting to "streamline the strategic focus of the Microsoft Store".