The decision will result in 150 Ryanair jobs being cut. The company estimates 2,000 jobs will be lost at the airport and in the wider economy as a result.
The cuts will take effect from the end of March.
The airline said it blamed an increase of up to 40% in airport charges this year and the Government's €10 tax for the reduction in passenger numbers.
Ryanair says the decision will result in 2m fewer passengers passing through Dublin airport this year.
It says the decision will not result in many routes being cut, but it will see a reduction in the number and frequency of flights.
However, the airline has also announced new routes to sun destinations for the summer, saying passengers are willing to pay the extra charges when going on summer holiday.
It says further cuts are likely to the winter schedule, which will be announced later in the year.
