Le Vell, 47, whose real name is Michael Turner, is facing 19 charges relating to alleged offences between 2001 and 2010 and the accusations include "raping a child, indecently assaulting a child and sexual activity with a child".
Bosses at ITV, the network behind Coronation Street, have now confirmed the actor will leave the show while the case continues.
A statement from ITV reads: "Given the serious nature of these charges, Michael Le Vell will not be appearing in Coronation Street pending the outcome of legal proceedings. It would not be appropriate for us to comment further at this time."
Le Vell is due to appear before magistrates in Manchester, England on 27 February.
The father of two, who split from his wife last year, has played car mechanic Kevin Webster in the soap opera for the past 30 years.
He was previously questioned by police on suspicion of an offence involving a young girl in 2011, but the investigation was dropped last year.