However, the Winter Art & Antiques Fair will be going ahead and will run alongside the Spirit of Christmas Fair from October 30-November 5.
The London Olympia exhibition venue has hosted a summer art and antiques fair since 1972 but growing costs have led Clarion to scrap plans for this summer.
A lack of dealer commitment and increasing costs has made the event untenable for the summer.
Fair director Mary Claire Boyd said: “I’d like to thank all of those who over the years have been part of the Olympia community for the June event, but unfortunately, there has not been the overall level of commitment required to go ahead with the fair this year.
“We have been delighted to run the fair for 49 years and are immensely proud of what the fair has achieved. We very much hope the fair will return in future years when the appropriate demand exists.”
The cancellation follows the news of other fairs being postponed including the 2023 edition of Masterpiece London which was announced earlier this month.