The waterfront outlet centre has instead promised it has ‘exciting’ plans in the work for the festive season.
Once an annual event, Gunwharf Quays last held a November fireworks display in 2018.
In 2019, the shopping centre’s firework supplies were used as part of the D-Day 75 anniversary events.
The 2020 display was cancelled due to Covid restrictions.
Yvonne Clay, centre director at Gunwharf Quays, said: ‘We have an exciting new longer term attraction under development for the festive period, watch this space!
‘We look forward to sharing more information on that very soon.
‘Fireworks don’t feature in our Gunwharf Quays winter plans this year, but the sparkle definitely does.’
If you are looking for fireworks displays to attend in and around Portsmouth this bonfire night, the Cosham display will take place in the King George V playing fields on November 3.