The state-owned, 24-hour network broadcasts world news and pro-government views beyond Iran's borders.
Press TV had broadcast in North America on the Galaxy 19 satellite platform. The channel did not say when it was dropped.
New sanctions announced by the US Treasury Department this week blacklisted the Islamic Republic of Iran Broadcasting (IRIB) and its director, Ezatollah Zarghami, which oversees Iran's broadcast channels.
Press TV said in a statement that its being dropped from Galaxy 19 was a "flagrant violation of freedom of speech."
In October, the Paris-based Eutelsat, one of Europe's leading satellite providers, cut Iranian state television and radio broadcasts to comply with tougher European Union sanctions on the Islamic Republic.
The Eutelsat decision hit 19 channels provided by IRIB, including Press TV.
Galaxy 19 is operated by Luxembourg-based Intelsat, according to the firm's website. The company did not immediately respond to a request for comment.
The European Union has stepped up sanctions on Iran's banking, shipping, and industrial sectors over Tehran's disputed nuclear program which the West fears is aimed at producing nuclear weapons. Tehran denies the charge.