Palin, 21, who was paired with professional dancer Mark Ballas, had avoided low finishes in the previous three weeks and never risked elimination.
But relatively low scores from the judges for her rock dance to "At the Hop," combined with weak support from fan voting sent her packing.
The daughter of former vice presidential candidate Sarah Palin was making her second appearance in the competition during a special season that brought back former competitors.
Palin, who finished third in the fall 2010 season, said she had an "awesome time" and was satisfied with having made it to week four.
Another returning dancer, actress and former finalist Kirstie Alley, barely survived this week after her Charleston received the lowest scores from the judges.
"Dancing with the Stars" is in its 15th season and airs on ABC.
(Reporting by Chris Michaud; Editing by Xavier Briand)
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