Billy Ray Cyrus admitted the star's recent behaviour - including smoking a legal high through a bong device and throwing her 18th birthday party in a bar ' have left him worried that she is being given bad advice.
He explained: "Every time the train went off the track. her people, or as they say in today's news, her handlers, every time they'd put the blame on me. I took it because I'm her daddy. OK, nail me to the cross.
"I'm scared for her. She's got a lot of people around her that's putting her in a great deal of danger. I want to get her sheltered from the storm.
Billy Ray - who is currently in the process of divorcing Miley's mother Tish Cyrus ' also revealed he avoided the singer-and-actress' 18th birthday party because he didn't want to be blamed for the fact it was held at Los Angeles bar Trousdale, even though she is three years under the legal age for drinking alcohol in the US.
He explained in an interview with America's GQ magazine: "You know why I didn't go? Because they were having it in a bar. It was wrong. It was for 21 years old and up. all them people, they all wanted me to fly out so that then when all the bad press came they could say, 'Daddy endorsed this stuff.' I started realising I'm being used.
'After the incident with the legal high, her handlers told me it was none of my business.
"I should have said, 'Enough is enough - it's getting dangerous and somebody's going to get hurt'.
Honestly, I didn't know the ball was out of bounds until it was way up in the stands somewhere."
Miley shot to fame on Disney TV show 'Hannah Montana' with Billy Ray, 49, playing her father but he admitted he wishes the programme had 'never happened' because of the impact it had on his family life.
He said: "The damn show destroyed my family. I hate to say it, but I'd take it back in a second.'
The singer also admitted he thinks his relationship with Miley could be improved, saying their communication is 'good enough to know it could be a lot better."