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The racecourse announced that racing scheduled for the farmers' day meeting on November 5 has been abandoned following a hot, dry summer that left significant areas of dead grass across the track.
A spokesperson said extensive efforts had been made to restore the course.
They said: "Our team has been working extremely hard to address the situation and we have also sought expert advice throughout, following the recommendations of our agronomists.
"Unfortunately, regrowth has been slower than we had hoped, and we now need to give the new grass time to establish properly before we can safely race.
"We want to reassure everyone that this decision is not through any lack of care or effort from the team. Every possible step has been taken to get the course back into racing condition, and that work will continue."
Adam Henson, best known for presenting BBC's Countryfile, had been due to attend as a guest speaker.
The racecourse has confirmed that everyone who purchased tickets will be contacted directly regarding refunds.
The spokesperson added: "There is no need to contact us at this stage; we will provide further information directly to ticket holders.
"We would like to thank all our members, customers, owners, trainers and supporters for their patience, understanding and support during what has been an incredibly challenging period for Ludlow Racecourse.
"We look forward to welcoming you back as soon as we are able to race safely."