Peter Pan - An Arena Adventure was due to play the city centre arena on three dates, but has had to cancel the shows because of 'unforeseen technical reasons'.
80s pop legend and former Eastenders actor Martin Kemp was due to star in the Christmas show alongside comedian and Mock The Week panelist Milton Jones.
The production was set to feature a 100-strong cast including Cirque performers and Irish dancers and was supposed to grace the First Direct Arena stage for three days, from December 21-23.
First Direct Arena have said in a statement: "The promoters are sorry to announce that all Peter Pan dates have been cancelled due to unforeseen technical reasons.
"All tickets purchased through the arena's official ticketing partners will be refunded automatically and customers will be notified by email.
"Any queries should be directed to your original point of purchase."
Comments on the statement on the panto's Facebook event suggest many people are disgruntled about the move.
Other shows in Manchester and Belfast, among others, still seem to be going ahead.
Luckily, there are still plenty of events in Leeds for lovers of the festive season.
There are Leeds Christmas Lights switch on, with local hero Josh Warrington and Britain's Got Talent finalist Micky P Kerr, and the epic Christmas Market in Millennium Square to look forward to.