diff --git a/doc/source/whatsnew/v0.24.0.txt b/doc/source/whatsnew/v0.24.0.txt
index cecc5e1f2144e7..ff9b91a0878f3c 100644
--- a/doc/source/whatsnew/v0.24.0.txt
+++ b/doc/source/whatsnew/v0.24.0.txt
@@ -948,6 +948,7 @@ Removal of prior version deprecations/changes
 - :meth:`Categorical.searchsorted` and :meth:`Series.searchsorted` have renamed the ``v`` argument to ``value`` (:issue:`14645`)
 - ``pandas.parser``, ``pandas.lib``, and ``pandas.tslib`` have been removed (:issue:`15537`)
 - :meth:`TimedeltaIndex.searchsorted`, :meth:`DatetimeIndex.searchsorted`, and :meth:`PeriodIndex.searchsorted` have renamed the ``key`` argument to ``value`` (:issue:`14645`)
+- :meth:`DataFrame.consolidate` and :meth:`Series.consolidate` have been removed (:issue:`15501`)
 - Removal of the previously deprecated module ``pandas.json`` (:issue:`19944`)
 - :meth:`SparseArray.get_values` and :meth:`SparseArray.to_dense` have dropped the ``fill`` parameter (:issue:`14686`)
 - :meth:`SparseSeries.to_dense` has dropped the ``sparse_only`` parameter (:issue:`14686`)
diff --git a/pandas/core/generic.py b/pandas/core/generic.py
index a80b6df703df06..44497c5dcb377e 100644
--- a/pandas/core/generic.py
+++ b/pandas/core/generic.py
@@ -117,7 +117,7 @@ class NDFrame(PandasObject, SelectionMixin):
     _internal_names_set = set(_internal_names)
     _accessors = frozenset([])
     _deprecations = frozenset(['as_blocks', 'blocks',
-                               'consolidate', 'convert_objects', 'is_copy'])
+                               'convert_objects', 'is_copy'])
     _metadata = []
     _is_copy = None
 
@@ -4722,18 +4722,6 @@ def _consolidate(self, inplace=False):
             cons_data = self._protect_consolidate(f)
             return self._constructor(cons_data).__finalize__(self)
 
-    def consolidate(self, inplace=False):
-        """Compute NDFrame with "consolidated" internals (data of each dtype
-        grouped together in a single ndarray).
-
-        .. deprecated:: 0.20.0
-            Consolidate will be an internal implementation only.
-        """
-        # 15483
-        warnings.warn("consolidate is deprecated and will be removed in a "
-                      "future release.", FutureWarning, stacklevel=2)
-        return self._consolidate(inplace)
-
     @property
     def _is_mixed_type(self):
         f = lambda: self._data.is_mixed_type
diff --git a/pandas/tests/frame/test_block_internals.py b/pandas/tests/frame/test_block_internals.py
index 5f1d4954521ed0..8a7d7d790a1b43 100644
--- a/pandas/tests/frame/test_block_internals.py
+++ b/pandas/tests/frame/test_block_internals.py
@@ -54,11 +54,6 @@ def test_consolidate(self, float_frame):
         float_frame._consolidate(inplace=True)
         assert len(float_frame._data.blocks) == 1
 
-    def test_consolidate_deprecation(self, float_frame):
-        float_frame['E'] = 7
-        with tm.assert_produces_warning(FutureWarning):
-            float_frame.consolidate()
-
     def test_consolidate_inplace(self, float_frame):
         frame = float_frame.copy()  # noqa