This year's IMB Bank Cook Community Classic has been cancelled due to the coronavirus pandemic.
The event, which raises money and awareness for community groups in Sutherland Shire and St George, was due to be held for the 13th year on Sunday, November 8 at Cronulla beach and park.
The steering committee, together with the event's founder and patron, Prime Minister Scott Morrison, said in a statement the decision followed "much consideration".
The committee deemed there was no safe way to hold the event and ensure community health safety.
Up to 5000 people normally attend the Classic, which includes a community swim, four way surf club relay, beach football and fete.
The committee said COVID-19 restrictions would have meant having to monitor the public's movements, issue tickets and record personal details.
The statement said consideration was given to holding the community swimming event in isolation, but recent storm damage had left the beach exposed with rocks, creating a further safety risk.
Mr Morrison said he was disappointed for the community, adding "we'll be back bigger and better than ever next year".
"The committee explored a range of ideas to keep the event going this year but our number one focus is keeping our community safe," he said.
"I know this is another blow in a series of bad news this year, but I have no doubt that as always the Cook community will come together to support one another and to support the businesses and organisations that are the biggest beneficiaries of the Cook Classic and Carnival each year."
The main fundraising element of the Classic has gone ahead, with community groups out in shopping centres and other areas selling raffle tickets to raise money for their organisations in a COVID-safe way.
Tickets are $2 each, with great prizes available.
Sponsors and community groups involved with the Classic have supported the decision to cancel.
"A cautious approach to large community events makes perfect sense in this time of uncertainty, especially as the community is building to recovery," said IMB Bank chief executive Robert Ryan.
"We will continue our community support through the IMB Bank Community Foundation and look forward to the Classic's program in 2021."
The statement said the Bate Bay surf clubs and their members were disappointed, but agreed it was the correct decision given the current situation.