Last week, more than 50 mail centres were affected by the unofficial strikes when fresh rows broke out over changes to working hours.
Postal workers accused management at some sites of changing shift starting times without warning. Concerns over workers' pensions were also raised.
London and Liverpool proved to be the worst hit areas, although parts of Scotland were also affected by the wildcat strikes.
Today, however, a statement on the Communications Workers Union (CWU) website said: "CWU has notified Royal Mail that industrial action planned to take place on Wednesday, Thursday and Friday of this week has been suspended in light of the ongoing Postal Executive discussions."
Leaders of the CWU will today continue to discuss whether to back a settlement to the union's long-running dispute which was hammered out in late-night negotiations between the CWU's general secretary, Billy Hayes, and his deputy, Dave Ward, and Royal Mail's chief executive, Adam Crozier, last Friday.
After almost five hours poring over the details of the deal yesterday, the CWU's postal executive, made up of 17 elected members and seven national officers, has yet to decide whether to throw its weight behind the deal.
If the agreement does receive the executive's blessing it will go to a ballot of members with a recommendation to accept, a situation that would make any further official strike action unlikely.
Yesterday CWU members in Liverpool took unofficial action. Workers in London, however, ended wildcat action, with a return to work over the weekend and yesterday.
It is understood the terms would mean postal workers getting a 5.4% rise from the beginning of this month until next April when they will receive a further 1.5% increase, giving them a 6.9% rise over 18 months.
There will be a lump sum payment of £175 to cover the period from April to October. Initially Royal Mail had offered 2.5% plus bonus and productivity payments.
A statement from the CWU added: "The CWU Executive continues to meet today to consider the agreement reached between Royal Mail and CWU on Friday."
A recent survey of businesses in London has suggested that the strike may have cost more than £300m.
