The difficult decision was made after an inspection of the fields at Richard Taylor Primary School following recent wet weather.
Heavy rain has left the ground waterlogged and unusable, with conditions unlikely to improve before the bank holiday Monday.
Chairman Stuart Frost said: “We work really hard every year to organise this fantastic community event and postponing it has been a very tough decision, but sadly the weather has beaten us.
“We’d like to say a big thank you to our visitors, stallholders and entertainment providers for their support and understanding.
“Please be assured that we’re doing everything we can to bring you Bilton Gala at a later date. It will certainly be worth the wait.”
Meanwhile, the committee are continuing to help good causes through the Bilton Community Fund.
£500 has just been donated to Harrogate Easier Living Project to support its Help at Home scheme, which provides gardening, decorating and other services to people in the Bilton area.
You can find more information about Bilton Gala and the Bilton Community Fund at www.biltongala.org.uk