The organisers of Dublin LGBTQ Pride say the parade is being cancelled for 2020.
The annual gathering is the second largest in Ireland outside of St Patrick's Day.
The event was initially postponed until September, but organisers say the scale of the parade would "place unnecessary pressure on essential frontline services and resources that will have been at full stretch for many months."
They say they made the decision "with great regret".
In a statement, organisers say: "When we chose 'In This Together' as our theme for 2020, we knew it was not just a phrase, but a responsibility.
"A responsibility to act in the best interests of all our communities, to react to changing circumstances and to support our frontline workers.
"Dublin Pride is the largest fundraising event of the year for many LGBTI+ community organisations and charities in Ireland.
"Even though we won’t be together on O’Connell Street we know that won’t stop us all coming together to support our community and the vital services they provide, often to our most vulnerable members."
Instead, the first Digital Dublin Pride Festival is to be hosted in June, with a fully interactive virtual Pride Parade and concert.
"Buildings will still light up for Pride, flags will be flying high across the city and our community will still be there to support each other.
"Pride isn’t cancelled, we’re just bringing it home", the statement adds.