The 62-year-old TV presenter and antiques expert is believed to have had a showdown with BBC bosses on 11 September, and the decision was taken to suspend him pending an investigation.
In September, a BBC spokesman said: “Tim is not currently in production on Bargain Hunt and we are using guest presenters.”
The BBC confirmed that Wonnacott had not taken part in any further filming for the show, with his final episodes set to air in early 2016.
Wonnacott said: “I am pleased to have been part of Bargain Hunt for so many years and have thoroughly enjoyed every one of my roughly 1,200 programmes.
“I look forward to developing new programme ideas.”