"Kaikov had his contract terminated after testing positive for a prohibited substance," the Russian team said in a statement.
"Rusvelo has a zero tolerance for doping and had already informed the International Cycling Union (UCI) about Kaikov's dismissal," added Katusha's reserve team who compete on the second-tier Continental Tour.
The 24-year-old rider, who won gold at last year's European track cycling championships in the team pursuit and finished second in the Madison, becomes the second Russian rider in five days to fail a drugs test.
Alexander Serebryakov, 25, who rides for Spanish outfit Euskaltel-Euskadi, was provisionally suspended by the UCI on Sunday after testing positive for the blood booster EPO.
Russian officials have been told to get tough on doping after the UCI rejected Katusha's application to compete in the top flight because of the team's doping record over the past four years.
Katusha, who finished second in the World Tour standings last year and have world number one Joaquim Rodriguez in their ranks, were reinstated in February after appealing to the Court of Arbitration for Sport.
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- Addiction & Substance Abuse
- International Cycling Union