The seven-time Tour de France champion said he is innocent of the charges but "announced on Thursday night that he has decided against fighting USADA because he is weary of the doping accusations that have dogged him for years," the guardian
According to the charges by USADA, Armstrong used and promoted the use of the blood booster EPO, blood transfusions, testosterone, human growth hormone and anti-inflammatory steroids.
The report says the charges were based on evidence which were gathered from an investigation of Armstrong's teams and other witnesses.
Armstrong denied the charges saying he is innocent and that "the process is one-sided and unfair."
"If I thought for one moment that by participating in USADA's process I could confront these allegations in a fair setting and -- once and for all -- put these charges to rest, I would jump at the chance," Armstrong said in a statement Thursday via CNN.
"I refuse to participate in a process that is so one-sided and unfair," Armstrong added.
Full text of the statement issued by the top cyclist can be viewed here.
If the USADA charges are confirmed by competent court of law, it could lead to the loss of his seven Tour de France titles and a lifetime ban from cycling.