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The announcement was made Sunday evening as temperatures began to drop.
The National Weather Service has put much of southeast Texas, including Houston, under a Winter Weather Advisory that began at 6 p.m. on Sunday evening and is expected to last until Monday.
RELATED: Weather Alert: Winter Weather Advisory now in effect, freeze line moving toward Houston
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Also expected to be rescheduled will be the 30th annual MLK Grand Parade and the MLK Boulevard trail ride in southeast Houston.
Mayor John Whitmire sent out a statement regarding the cancellation, saying it was best for public safety.
"I made this decision based on the advice of Houston Police Chief Troy Finner, HFD Chief Sam Peña, and George Buenik, director of the Mayor's Office of Homeland Security and Public Safety, who all agreed that postponing the parade is in the best interest of public safety for parade participants, observers, and first responders," Mayor Whitmire said. "For several years, the City of Houston and the Black Heritage Society have joined to hold the parade to honor Dr. King's life and legacy. While we cannot come together because of the forecast for dangerous wintery conditions, I urge everyone to take a moment on MLK Day to reflect on Dr. King's teachings. Please check in on your family, friends, and neighbors to ensure they have what they need during the day and evening tomorrow," Whitmire said.