The high-profile conference had been set to run in Davos-Klosters between January 17th and 21st, but "current pandemic conditions" had made it "extremely difficult to deliver a global in-person meeting", the WEF said in a statement.
It stated: "Despite the meeting’s stringent health protocols, the transmissibility of Omicron and its impact on travel and mobility have made deferral necessary."
It coms as countries implement further curbs due to the outbreak of the highly-transmissable variant.
The Netherlands implemented a lockdown over the weekend, and today Israel got set to ban travel to the US and Canada.
Global executives will be invited to a series of "State of the World" online sessions in January, "to focus on shaping solutions to the world’s most pressing challenges".
WEF executive chairman, Professor Klaus Schwab, said the postponement "will not prevent progress" due to the ability to hold the meetings online next month.
He added: “Public-private cooperation has moved forward throughout the pandemic and that will continue apace."