The Dartmoor Miniature Pony Centre is to close at the end of this month.
The site, near Moretonhampstead, attracts 35,000 visitors a year and has been running for 32 years.
Last year the attraction was put up for sale for £1-point-7million and bosses say it was an 'extremely difficult decision to make and not one we have made lightly'.
Ina post online they wrote: "As always, the welfare, health and happiness of our animals is paramount so over the winter we will be making steps to find them all wonderful homes. As well as delivering our excellent standard of care.
"The centre has welcomed thousands of visitors over its 32 years, given hundreds of pony rides, produced lots of foals and helped create amazing family memories. We will be forever grateful for everyone who has visited the centre.
"Season ticket holders will be in touch with you all to discuss your membership.
"The ponies are irreplaceable, one of a kind and we can’t truly express the love we have for them.
"As of Sunday 27th October, at 10.30am the centre will open its doors for the last time.
"Please come and visit us over October half term."