Cummins had raced Padgetts Hondas for the past eight years and enjoyed multiple podium success with the veteran outfit.
But coming into 2024 it looked almost certain that he would not return to the team, before ultimately penning a deal.
Cummins’ practice week proved to be frustrating as he battled numerous issues with his Honda.
He retired from both the opening Supersport and Superbike races of TT 2024, and was a distant eighth in Thursday’s Superstock race.
In a statement, Cummins said: “I have withdrawn from the 2024 Isle of Man TT Races with immediate effect, and will provide an update on my plans for the remainder of the season in the coming weeks.
“I’d like to thank all my sponsors and family for their continued support and wish my fellow competitors the best for the remainder of the TT.”
Cummins offered no further details as to what has caused him to withdraw from the event, but his statement suggests this could spell the end of his time with Padgetts Racing.
The Manxman, made his TT debut in 2006, came close to podiums last year with the Padgetts squad despite missing several races with an illness.
Cummins’ withdrawal from the TT comes just a year after his former team-mate Davey Todd amicably parted way with Padgetts – with whom he won the 2022 British Superstock title - mid-season after a tough 2023 TT.
Todd joined the TAS Racing squad soon after for the remainder of 2023 and scored his first TT victory with the team on Thursday in the Superstock race.
Padgetts welcomed back 16-time TT winner Ian Hutchinson – with whom he won his famous five races in a week in 2010 – for this year, marking the Yorkshire rider’s return to the Isle of Man after missing last year having suffered a stroke.
Hutchinson was 13th in Thursday’s Superstock race, 15th in the Supersport contest last Saturday and retired from the Superbike race.
