The Milton Arms, in Milton Road, was a favourite with football fans before and after Pompey games.
But landlord Todd Sweeney says trade has been bad since the smoking ban and he has struggled to pay rent and rates.
This month the 49-year-old was booted out by pub company Enterprise Inns, which repossessed the property.
It now stands boarded up after youngsters broke in and drew graffiti on the walls.
It is the latest in a string of local drinking holes to shut down.
Mr Sweeney said: 'When we took it up six-and-a-half years ago it was a lot busier. It was a good atmosphere. It has been a culmination of a lot of things.
'In the past two years things have been getting worse and worse.'
The closure is welcome news for some, who claim the pub had become a trouble hotspot.
Heather Terrett, safer neighbourhoods Sergeant for Milton, said: 'We have recently been getting complaints about noise and fighting. One resident told us that when the pub was open it was like a living hell and now they are in heaven.'
But many say it is a shame the pub, whose previous landlords include Pompey legends Jack Froggatt and Johnny Gordon, has closed. Pompey fan and regular John Cameron said: 'It was always a good meeting point. I have been going there since I was a lad and I took my son there.
'It has always been busy on match days but there are only 19 home games a season so they can't survive on that.
'It is a real shame. The government and breweries need to do something to keep pubs open.'
Milton ward councillor Caroline Scott added: 'It was a lovely little pub and it will be a sad loss.'
Enterprise Inns says it is working to get the pub open again.
A spokesman said: 'Following repossession on October 16 there have been damages and a break-in to the property which has resulted in Enterprise Inns securing this property with shuttering.
'However, we are actively working to reopen this pub shortly.'
>> Vote in our latest web poll.