The former Melrose Place star and Trebunskaya became the second couple ousted from the competition based on the combination of theDancing with the Stars judges' scores they received during Monday night's performance show and the home viewer votes that were cast afterwards.
"It was a great time. I had a great time, and it was fun to kind of test myself. Thanks to the judges -- appreciate it," Wagner said after Dancing with the Stars host Tom Bergeron revealed the couple's elimination.
"And good luck to everybody else, the other contestants."
Prior to Wagner and Trebunskaya's ouster, singer Gavin DeGraw and partner Karina Smirnoff were the other couple still in danger of elimination, however the Dancing with the Starsbroadcast did not specify whether they were the other member of the week's bottom two couples.
Wagner and Trebunskaya had finished in a five-way tie for seventh and last place on Monday night's Dancing with the Stars judging leaderboard. The performance show had featured the competition's eleven remaining couples telling the stories of the most memorable year of their lives through dance.
Comedienne and The View co-host Sherri Shepherd and partner Val Chmerkovskiy, singer Gladys Knight and partner Tristan MacManus, singer Gavin DeGraw and partner Karina Smirnoff, and former Little House on the Prairie star Melissa Gilbert and partner Maksim Chmerkovskiy had also finished tied for seventh place with Wagner and Trebunskaya.
Opera singer Katherine Jenkins and partner Mark Ballas had finished in first place on the leaderboard for the third time in a row after they performed a waltz which received 29 out of 30 possible points -- including a pair of 10s, the first 10s of the season -- from the judges.
Actor and telenovela star William Levy and partner Cheryl Burke finished in second place on the judges' leaderboard with 28 points for their salsa routine, which also included one score of 10.
Entertainment reporter and Extra host Maria Menounos and partner Derek Hough finished in third place on the leaderboard after they danced a rumba which earned them 27 points from the judges.
NFL player Donald Driver and partner Peta Murgatroyd followed closely behind Menounos and Hough in fourth place with a rumba which received 26 points.
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Actor Jaleel White and partner Kym Johnson and Disney Channel star Roshon Fegan and partner Chelsie Hightower finished tied for fifth place on the leaderboard after they both received 25 points from the judges during Monday night's show.
White -- who is best known for his role on ABC's sitcom Family Matters -- and Johnson performed a rumba routine while Fegan and Hightower danced a samba.