White made the announcement to Fox Sports Australia, adding that Bisping would now fight No.1 contender Yoel Romero, as was originally planned.
"I made this GSP fight, we did a press conference. The thing was supposed to happen in July. Michael Bisping is going to have to defend his title now. We're not waiting for GSP," White said.
St-Pierre, who had not fought since he vacated the UFC welterweight title in late 2013 to take a leave of absence, called out Bisping last week in a social media post to choose a date any time after October.
"Georges St-Pierre is saying he will not be ready to compete now until November. Who knows if that's even the case. It could be next year," White said.
St-Pierre (25-2) was considered one of the top pound-for-pound fighters in the sport when he stepped aside.
"We're moving on with the division, and Yoel Romero will get the next shot," White said.
ESPN's Brett Okamoto contributed to this report.