Park officials said in a statement posted Friday to the resort's website that the closure will begin on Saturday at Shanghai Disneyland, Disneytown and Wishing Star Park. None of the company's other properties around the world are impacted.
"We will continue to carefully monitor the situation and be in close contact with the local government, and we will announce the reopening date upon confirmation," the company said.
Disney said guests can expect to receive refund information "via the resort's official platforms as soon as possible."
So far, there are 830 confirmed cases of the virus and 26 deaths. Wuhan and 12 other Chinese cities are on lockdown, isolating a combined population of more than 36 million.
Disney is far from the only business feeling the impact of the outbreak.
McDonald's said it has closed all of its restaurants in five cities in Hubei province - Wuhan, Ezhou, Huanggang, Qianjiang and Xiantao - until further notice. Its operations are running in other cities in Hubei where public transportation is available.
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The fast-food giant is also taking the temperature of all employees when they arrive at work and sending anyone with a fever or cold symptoms home. Delivery drivers are required to wear masks. McDonald's is also disinfecting high-contact surfaces more frequently at its Chinese establishments, including tables, chairs door handles and self-ordering kiosks.
Ford, General Motors and Fiat Chrysler all have restricted travel to Wuhan and other parts of China affected by the virus. Most auto factories, though, remain closed for the Chinese New Year and haven't been affected yet. Ford said in a statement that it has a special team monitoring the situation.
Fiat Chrysler has banned corporate travel in areas locked down by the Chinese government due to the virus, while GM has restricted travel to all of China unless it is "business critical and approved in advance," a company statement said.
Home Instead Senior Care, based in Omaha, Nebraska, which sends caregivers to tend to elderly clients, has suspended service to its six or seven clients in Wuhan - after arranging for their families to take care of them. The company has 70 clients in the southern city of Shenzhen, where the virus has yet to strike. But worried clients there are already telling caregivers to avoid public transportation.
Restrictions on travel and fears about flying to the region could take a toll on demand for oil, gasoline and jet fuel. The suspension of public transportation services and quarantine enacted Thursday could cause a short-lived oil demand drop of 50,000 to 70,000 barrels per day in the Hubei province, according to an analysis from S&P Global Platts.
The Associated Press contributed to this report.
The Walt Disney Company is the parent company of this station.