The Open Skies Treaty came into force in 2002 and is designed to boost confidence and assure against attacks.
"During the course of this review it has become abundantly clear that it is no longer in America's interests to remain a party to the Open Skies Treaty," one official told Reuters news agency.
Some 35 nations are party to the treaty, including Russia, Canada and the UK.
In abandoning the Open Skies Treaty, President Donald Trump is renouncing an arms control agreement that was seen as essential for transparency during the immediate post-Cold War years.
But critics of the Trump Administration say this is a reason for fixing the treaty, not abandoning it
And it may be in Russia's interest to remain in the treaty, exacerbating the unease of Washington's partners, while it continues its flights over their territory
Earlier this year, US Defence Secretary Mark Esper accused Russia of violating the treaty by banning flights over the city of Kaliningrad and other areas near Georgia