The Easter Stages Rally, due to take place this weekend across counties Down and Antrim, has been cancelled because of the heavy snow.
The decision was also made in light of the hardship being faced by residents in the area.
The rally was to use a number of roads in the Dromara Hills, around Slieve Croob, which are buried under snowdrifts of up to 12 feet.
Clearing efforts are expected to make some progress by the weekend, but the forecast of continued low temperatures have made organisers take the decision.
Bobby Willis, spokesman for the event, said: "The management team has decided unanimously that it is inappropriate for the rally to continue.
"As well as conveying sensitivity to people in the area at this time of hardship, our fear is also that the road closures that are necessary for the rally to run, may further hamper what has become crucial access in the area. The rally could also put additional pressure on emergency services, which are already stretched."
The one-day Triton Easter Stages Rally was set to replace the Circuit of Ireland Rally in 2013, which was postponed due to insufficient funding. The event was scheduled to start this Saturday in Lisburn and finish in Ballynahinch on Saturday evening.