The 17-year-old, right, from Malvern, Worcestershire, who was the bookies' outsider to win, took her defeat with grace.
After the result was announced by host Dermot O'Leary, she said: "Thank you to everybody who ever believed in me."
Her departure leaves three remaining finalists to battle it out for the title in tonight's show, including five-piece boy band One Direction, Rebecca Ferguson from Liverpool, plus former painter and decorator Matt Cardle.
Earlier in the show, Lloyd sang a duet with Black Eyed Peas star Will.i.am, including the band's songs Where Is The Love and I Gotta Feeling.
After their performance, he said: "She's a true talent... she's really something."
Lloyd declared their number her favourite moment as she said her goodbyes.
She said: "My highlight throughout the whole of this is standing on this stage with Will.i.am. I cannot believe I had the opportunity to do that and I thank everybody who arranged that for me and I thank him as well."
The feisty teenager earlier impressed the judges with her mash-up of 369 by Cupid ft B.o.B and Get Ur Freak On by Missy Elliott.
Judge Dannii Minogue said: "You've had an amazing mentor and it's what you do with it now and how you approach people that will create your future."