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It was with “great sadness and a heavy heart”, the singer confirmed the news.
The musician, 74, was forced to postpone the highly anticipated event until 2022 while he recovers from a nasty fall.
He has been in “considerable pain” ever since, with an injured hip and urgent surgery advised.
Performances around Europe and the UK were due to commence later this year as part of Sir Elton’s Farewell Yellow Brick Road tour.
“At the end of my summer break I fell awkwardly on a hard surface and have been in considerable pain and discomfort in my hip ever since,” he said in a statement.
“Despite intensive physio and specialist treatment, the pain has continued to get worse and is leading to increasing difficulties moving.
“I have been advised to have an operation as soon as possible to get me back to full fitness and make sure there are no long-term complications.”
Sir Elton confirmed he will undergo intensive physiotherapy and an operation to ensure a full recovery enabling him to get back on the road.
His Farewell tour is due to recommend in New Orleans in January and will run until summer 2023.
In the meantime, he still aims to perform at the upcoming charitable Global Citizen event on September 25.
“Being just five songs it’s a very different physical undertaking to the demands of playing for close to three hours every night on tour and travelling overnight between countries,” Sir Elton said.
“After this I will be having the operation... I know how patient my incredible fans have been since Covid halted touring last year, and it breaks my heart to keep you waiting any longer.
— Elton John (@eltonofficial) September 16, 2021
“I completely feel your frustrations after the year we’ve had. I promise you this, the shows will return to the road next year and I will make sure they are more than worth the wait.”
It was previously announced Sir Elton will play his final London tour date at the BST Hyde Park festival in 2022.
The event, which has been cancelled for two years in a row due to coronavirus, will now host the London performance on June 24, 2022.
Sir Elton also announced a new album titled The Lockdown Sessions in September which includes 16 songs recorded remotely with other artists over the last 18 months.
The album will be released on October 22.