You can cancel your Office 365 subscription at any time. However, depending on the product and the type of subscription you have, there may be a penalty for canceling before the end of your contract. For subscriptions with a monthly commitment payment, there is no penalty for canceling your contract at any time. Annual commitment subscriptions that are paid month to month may incur some penalties if canceled early. Annual commitment subscriptions that are paid up front do not receive a refund if canceled prior to the full contract period.