The Norwegian team from a fishing town of around 55,000 people north of the Arctic Circle were beaten 4-0 by Sporting Lisbon after extra time in the second leg of the round of 16 on Tuesday and were eliminated 5-3 on aggregate.
Sporting's stirring comeback should give some inspiration to Manchester City and Chelsea, who also faced three-goal deficits against Real Madrid (3-0) and Paris Saint-Germain (5-2) on Tuesday.
In the other match, Arsenal and Bayer Leverkusen are tied at 1-1 going into the second leg in London — with the winner meeting Sporting in the quarter-finals.
Bodo/Glimt — the northernmost team ever to play in the Champions League — have charmed the world of soccer with an unlikely streak of wins in their debut campaign in Europe's top tournament.
After beating Manchester City and Atletico Madrid in the final two rounds of the league stage to squeeze into the playoff round, Bodo/Glimt defeated Inter Milan — last season's runner-up — home and away to advance to the round of 16.
A 3-0 win in its 8,000-capacity Aspmyra stadium last week didn't prove enough against Sporting, who dominated throughout in the return match and scored through Gonçalo Inácio, Pedro Gonçalves and Luis Suarez to take the game to extra time.
There, Uruguay left back Maximiliano Araújo scored in the 92nd minute to put Sporting ahead on aggregate for the first time and Bodo/Glimt had no answer. Rafael Nel added a fifth in stoppage time.