“The Crown,” which debuted in 2016 and focuses on Queen Elizabeth’s II’s reign and family, was created by the writer and producer Peter Morgan. In a statement on Friday, he said that the time had come to end the series.

“At the outset I had imagined ‘The Crown’ running for six seasons but now that we have begun work on the stories for season five it has become clear to me that this is the perfect time and place to stop,” said Mr. Morgan, who also wrote the script for “The Queen,” the 2006 movie that earned Helen Mirren a best actress Oscar. “I’m grateful to Netflix and Sony for supporting me in this decision.”

Cindy Holland, vice president of original content for Netflix, said in a statement that she fully supported Mr. Morgan’s creative decision and that she was “excited to see how he, Imelda Staunton and the cast and crew of Season 5, bring this landmark series to a fitting and spectacular end.”

The show has cost Netflix nearly $150 million, which is about twice as much as the royal family costs British tax payers each year, and putting together the story line is no easy task. It involves a team of researchers who once a week come to Mr. Morgan’s London home for script meetings, based in part on documents they have attained.

There is an expectation to “deliver TV on an annual basis, but what we’re making now is feature-film-quality stuff, and no one ever expected you to make 10 feature films a year — because you’d die,” he told The New York Times last November.