According to Deadline, which first reported the news, the series wrapped production on Friday with the last scene in the final episode completed.
"A lot of parties came together and talked about their positions on the show — both in terms of business and in terms of creative — and we all decided that this was an opportune time to say goodbye to a show that has been very, very good to us," CBS Entertainment President Kelly Kahl said in a statement.
The series was created by Rob Doherty and starred Miller as a Sherlock Holmes living in present day New York. Lucy Liu co-starred as Dr. Joan Watson, a female version of Holmes' usual sidekick, Dr. John Watson.
"Rob set out to tell a story, and it feels like he has accomplished what he had set out to do," executive producer Carl Beverly told Deadline. "The actors, the crew and the cast feel that way, and we feel that. So are grateful and celebrating what we had and looking forward to the future."
Miller and Liu's contracts were expiring at the end of season seven, and the final season was pre-planned as the series came to a natural conclusion.
Doherty and Beverly wrote the season six finale as a possible finale, with Holmes and Watson moving to London. However, CBS opted to give the show another year in May.
Doherty told Deadline the plan is to bring Holmes and Watson back to New York for the final run. He said there will be a time jump, inspired by the original Sir Arthur Conan Doyle Sherlock Holmes stories.
"There was a period when Sherlock and Watson were not together, they went down very different paths, and their lives were very different from having been apart," the creator explained. "We felt that would be appropriate for our show. A lot was Season 7 working towards that, how can we tell a larger story that would allow us to devise a finale that sets in not so distant future."
Although Elementary was never a big hit with critics and its ratings dipped over the years, the show was a lucrative product for CBS, which wholly owned the show. It was popular in syndication domestically and abroad. Former CBS CEO Les Moonves said in May 2016 that the show made about $80 million in profit for the company.
Elementary will finish its run with 154 episodes, and the final season will premiere in 2019.