Organisers of South Molton Carnival has said it is cancelled because of the severe wetaher forecast for Saturday, September 28.
The Rotary Club of South Molton posted on its Facebook page within the last hour to say it had regretfully taken the decision to cancel.
It said: 'In view of the Met Office's in-depth weather forecast, with rain building throughout the afternoon and being quite severe 5pm onwards.
'For the safety of everyone, South Molton Rotary has regretfully had to take the decision to cancel the carnival tomorrow.
'The Crowning of the Queen will go ahead as planned in the Pannier Market at 12noon, but the procession and events in the pannier market will not'.
The Met Office has issued a yellow warning for strong winds and heavy rain on Saturday due to arrive across Devon and Cornwall by mid afternoon.
The carnival parade had been due to start in the early evening.