If you like a chained operation, you can also use compress
function:
test = pd.Series({
383: 3.000000,
663: 1.000000,
726: 1.000000,
737: 9.000000,
833: 8.166667
})
test.compress(lambda x: x != 1)
# 383 3.000000
# 737 9.000000
# 833 8.166667
# dtype: float64