The Turkish Ski Federation informed the FIS of its decision to pull the plug on the event, citing "financial reasons".
The nordic combined event was scheduled to take place at the venue in eastern Turkey - which hosted the 2011 Winter Universiade - on the weekend of November 8 and 9.
The ski jumping Continental Cup meeting scheduled for Erzurum has also been affected by the decision.
A statement on the FIS website said the cancellation was due to "non-confirmation of government budget for the rest of 2012".
No alternative nordic combined venue has yet been confirmed.
The 2012-13 season kicks off in Lillehammer on November 24.