The announcement was made at a special media briefing at the Mission Estate Winery by Sports Entertainment Limited, producer of the Mission Estate Concert. SEL chairman Mr James Erskine the decision was made because of a changing market.
He said it was disappointing because 20 out of 22 concerts have been financial successes.
Last year's concert dubbed the British and Irish Invasion and featuring singers Ronan Keating and Billy Ocean, Leo Sayer, Sharon Corr from the Irish band the Corrs, and Spice Girl Mel C, saw smaller crowds than in previous years turn out.
Mission Estate Winery chief executive Peter Holly said the decision did not signal the end of the event.