The Nelson Mandela Invitational, renamed the Children's Charity Invitational, has been "postponed indefinitely".
Event spokesperson Duncan Cruickshank said on Tuesday that the event, scheduled to tee off at the Arabella Country Estate on Friday, was "not happening at all".
He said he was not in a position to comment on reasons.
The Nelson Mandela Children's Fund withdrew from the annual event following a call by Archbishop Emeritus Desmond Tutu for Mandela to distance himself from Gary Player, who designed a golf course in Burma.
At a function at the Boschendal Wine Estate on Monday, Player spoke of his sadness when Mandela pulled out: "But I will continue to raise money and I will say to people, 'This is coming from Madiba and myself'."
Player said he had fought to break apartheid in sport.
"I used to play golf with (former prime minister) John Vorster.
Something that many people questioned. What they didn't know is that I told him I wanted to break apartheid in sport."