The $12 million Dubai World Cup will be postponed until next year, according to an announcement from the Dubai Media Office, a governmental agency.
Officials had planned to run the race March 28 without spectators at Meydan Racecourse over concerns about the coronavirus.
The Dubai World Cup had been the world's richest horse race until this year, when the Saudi Cup, with a $20 million purse, overtook it.
Thunder Snow had won the race each of the past two years.
The Associated Press contributed to this report.