The Windsor Castle Royal Tattoo, which has been running since 2008, usually takes place in the evenings during the Royal Windsor Horse Show in May.
However, the Tattoo's organiser HPower has confirmed the event will not happen this year, following its postponement last year due to The Queen's Diamond Jubilee celebrations.
HPower are still in talks to organise an event to be performed during the evenings of the Horse Show, held this year between May 8-12, which they hope to announce at the end of the month. The event's Facebook page has been inundated with disappointed Tattoo fans, some of whom claim to have already booked hotel rooms.
Jo Peck, HPower's marketing and communications manager, said: "We've never put tickets on sale for the Tattoo, but people are still welcome to come for the Windsor Horse Show
"We want to thank everyone for their support during the years the Tattoo ran." The Tattoo features soldiers, sailors and airmen from the British and French Armed Forces, who come together for displays and a spectacular fireworks grand finale.
The event was not-for-profit, with all proceeds going to the British Legion.
David Ball, chairman of the legion's Dedworth, Old Windsor and Windsor branch, said all the legion's members would miss the 'spectacular' event.
He added: "It's a huge shame because it's such an enjoyable event that puts on a fantastic display.
"We go round with buckets every night and people are really generous - our buckets are always full. Stall holders at the event also make a lot of money. A lot of people will be disappointed."
Mayor of the Royal Borough, Cllr Colin Rayner, said: "I'm very sad that it's not happening. The tattoo has become part of the fabric of the Royal Borough.
"Not only is it a spectacular event, but it brings in hundreds of thousands of pounds to local businesses.
"I'm sure the residents of the Royal Borough will join me in thanking HPower for some spectacular sights over the past few years and here's hoping they can resurrect it for 2014."