The sixth edition of the annual race was due to take place between April 30 and May 3, but is now considered 'untenable' as the sporting calendar continues to grapple with the ongoing coronavirus crisis.
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The event, launched in 2015, was attended by 1.96 million fans last year and generated £60 million for the Yorkshire economy.
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“The race is a great spectacle, but we all know that the health and well-being of everyone across the region, and the country, is frankly more important than a sporting event." said Peter Box CBE, Chair of Welcome to Yorkshire.
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"Our attention now turns to supporting those tourism businesses across the region, many still reeling from the floods, during this unprecedented crisis.”
Watch shocking moment Giro race leader Lopez throws bottle at rival
Watch shocking moment leader Lopez hurls bottle at Giro rival