Todmorden Agricultural Society general secretary Rob Goldthorpe said the society had taken the difficult decision after Calderdale Council officers flagged up potential issues with vehicle axle weights and the positioning of marquees in the park.
Mr Goldthorpe said: "We are disappointed the council only raised these concerns so late in the day, as there are issues of the society being liable for some damage restoration.
"In the light of this it became clear the only way this year’s event could have taken place would have been to completely redraw the showground plan and at this stage it is too late to consider such a major undertaking.”
The event was due to be held at Centre Vale Park, Todmorden, Calderdale, on Saturday, June 18.
Calderdale Council’s head of neighbourhoods Andrew Pitts, said: “It is regrettable that the role of the park as an essential part of the town’s flood defences causes some restrictions to its usage in relation to vehicles.
“We met with the committee and pledged to do everything we could to facilitate this year’s show, but unfortunately time was against us.”
Mr Pitts said the information about weight restrictions only became available recently and the committee had decided it could not reorganise this large event at such short notice.
He added: “However, we will now work with the organisers to ensure that they can design next year’s show to include appropriate vehicle routing and site layout to minimise the likelihood of any damage to the drainage system."
Mr Goldthorpe said the society would work with council officers to ensure the return of the event.