The Liberian election commission announced on Thursday that the decision was made because there was no way to hold the nationwide polls without endangering lives.
It added that under the current circumstances, it is impossible to hold "a free, fair, transparent and credible election."
The decision comes as Liberian President Ellen Johnson Sirleaf has declared a state of emergency to prevent gatherings that could result in the spread of the virus.
Most Ebola death cases have been reported from three West African countries, with Liberia being the worst hit.
Concern is mounting across the world as the killer Ebola virus is spreading to other continents after claiming almost 4,000 lives in West Africa.
Latest reports say the first nurse to contract Ebola in Spain is at serious risk of dying, while a Texan patient infected with the virus died on Wednesday.
Ebola is a form of hemorrhagic fever whose symptoms are diarrhea, vomiting and bleeding. The virus spreads through direct contact with infected blood, feces or sweat. It can be also spread through sexual contact or the unprotected handling of contaminated corpses.
Ebola remains one of the world's most virulent diseases, which kills between 25 to 90 percent of those who contract the disease. There is currently no known cure for Ebola.