"The Book of Joel" was scheduled to be released in June. It was promoted as an "emotional ride" with never-before-revealed details of the singer's failed marriages, including his union with Christie Brinkley, and his battles with substance abuse.
Joel started working on the memoir, but then changed his mind about publishing his stories.
"It took working on writing a book to make me realize that I'm not all that interested in talking about the past, and that the best expression of my life and its ups and downs has been and remains my music," Joel said in a statement released Thursday.
HarperCollins confirmed Thursday that the deal had been canceled. Spokeswoman Tina Andreadis said Joel had turned in a finished manuscript, but that no copies had been printed.
The deal was rumored to be worth seven figures.
The 61-year-old Rock and Roll Hall of Famer has sold millions with hits including "Uptown Girl," "New York State of Mind" and "Just the Way You Are."
The Associated Press contributed to this report.