The Liev Schreiber fixer drama's cliffhanger Season 7 finale that aired on Jan. 19 will serve as its series finale after Showtime opted not to renew the series for Season 8. “After seven incredible seasons, Ray Donovan has concluded its run on Showtime,” Showtime said in a statement. “We are proud that the series ended amid such strong viewership and on such a powerful note. Our deepest thanks go to Liev Schreiber, Jon Voight, showrunner David Hollander and the entire cast and crew, past and present, for their dedicated work.” Two days after the Season 7 finale, Schreiber warned of a possible cancelation. Last month, Showtime Entertainment co-president Gary Levine said Ray Donovan was "nearing the end of its run." But Ray Donovan still seemed like a lock to at least return for Season 8. ALSO: Here are 10 questions that are forever unanswered in the wake of Ray Donovan's cancelation.