The 26-year-old says he wants to spend time with his family, make some new music and work on a new live show.
In September Chance announced he was moving the show from autumn to January 2020 because of the birth of his daughter.
He's now promised to come back "stronger and better" at some point in 2020.
The Big Tour was due to visit venues in Las Vegas, Miami and Los Angeles.
But in September Chance announced he was postponing the tour, writing that he regretted missing some important milestones after the birth of his first daughter.
Kensli was born in 2015 when his career was just starting to take off.
His third mixtape Coloring Book won a Grammy award for Best Rap Album in 2017 and was the first record to chart on the US Billboard 200 solely on streams.
But his debut studio album The Big Day wasn't as well received by some.
Despite reaching number two in the US, it only got to number 17 in the UK album chart and was criticised by some fans.
Fans who bought tickets for The Big Tour are being told get in touch with the ticket seller, but some will get refunds automatically.