The Venice-inspired restaurant launched at London’s £400m St James’s Market development in October 2016 and was the group’s first opening to serve breakfast.
Salt Yard said that though the location was 'fabulous' it was 'not quite right' for the concept.
Veneta is to close after just over a year on 22 December.
"Sadly we've taken the decision to close the doors definitively on Veneta at the end of 2017; the location whilst fabulous, is not quite right for our concept," Salt Yard Group told BigHospitality in a statement.
“We look forward to serving our customers our beautiful Venetian dishes throughout the Christmas season, and indeed providing them with a farewell drink or two at the end of the year."
Veneta launched at the St James’s Market scheme alongside an eclectic mix of openings including Duck & Waffle Local, African restaurant Ikoyi and the first UK outpost of New York’s two-Michelin-starred Nordic site Aquavit.
The closure will leave Salt Yard Group with four London restaurants, its eponymous Fitzrovia site, Dehesa and Ember Yard in Soho and Opera Tavern in Covent Garden.