Groovin the Moo will not go ahead in 2021 due to uncertainty over COVID-19 restrictions.
Event organisers Cattleyard Promotions confirmed the cancellation on Thursday morning.
Cattleyard Promotions' Steve Halpin said people who had kept their 2020 tickets for the Groovin the Moo 2021 would still be able to apply for refunds.
"We are so grateful to all of you who kept your GTM 2020 ticket. Refund information will be sent out soon," he said.
"We know it's a big ask, but if you're able to hold on to your ticket a bit longer, it will really help us in welcoming GTM back next year.
"Thank you to each and every one of you for sticking with us - we can't wait to return in 2022.
"We know it has been a very strange and tough time for everyone."
However, Cattleyard Promotions said they were working to develop a smaller new regional music event called Fresh Produce.
Fresh Produce will tour in Canberra, Bendigo, Townsville, Bunbury, Maitland, Wayville, Toowoomba and Glenorchy.
Fresh Produce will feature a single-stage setup and seating to comply with COVID-19 requirements in different states.
"Our team is very excited to be developing a new show that highlights the ripest pickings from multiple regions around the country," Mr Halpin said.
"We can't wait to feature all things fresh and support local communities in our familiar stomping grounds and our two new regional spots."
For more details on ticket refunds, visit www.gtm.net.au
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