The event, which gets under way at Celtic Manor on Thursday, has been a fixture on the schedule since 2000.
However, redevelopment work at the the resort, which hosted the 2010 Ryder Cup, means the tournament will take an indefinite hiatus.
"Celtic Manor are concentrating on building a new conference centre," Tour spokesperson Keith Waters is quoted as saying by BBC Sport.
"Once that's completed then I'm sure it will return."
Reigning champion Gregory Bourdy will be looking to become the first man to successfully defend his crown in Newport this weekend.