Organizers say they can't legally run it because of health and safety.
An event which has taken place in the fishing town for more than 50 years is being scrapped.
The Brixham Trawler Race sees members of the public donate money to access the Quay and then take part in a race aboard local trawlers.
This year, £24,000 was raised for charities, schools and to fund local activities.
But the organizers have issued a statement saying there will be no future Trawler Races.
It says: "In this world of increasing Health and Safety legislation the committee must announce the end of the annual Brixham Trawler Race. It is no longer possible to legally run the race; it has been impossible to comply with newly imposed constraints and regulations."
In a post of social media, the committee thanked organisers, skippers, crews and owners of the vessels, as well as the tens of thousands of people who have attended the event over the last 55 years. They've described it as the end of an era.
Torquay big wheel will keep on turning
Fifth person arrested over 'unusual batch of heroin'
'New Newquay' goal for Torbay as watersports booms
Second man dies in heroin emergency
Exeter riding school needs new recruits
Communication needs to improve over accommodation for asylum seekers
