The Kenyan was victorious at the Chicago Marathon earlier this month to wrap up the WMM series victory and had been scheduled to collect her prize after the final event in New York on Sunday.
However, Jeptoo is alleged to have failed an A-sample doping test in September, with her B-sample apparently yet to be tested - forcing the WMM to delay the ceremony.
A statement on the organisation's official website read: "At present there has been no decision in this case by the IAAF, including in relation to sanctions.
"As a result WMM is unable to comment further until that determination has been made, although in the circumstances it has been decided to postpone the WMM Awards Ceremony that was due to take place on the 2nd November 2014."
Nick Bitel, general counsel of the body, added: "WMM has always held a stern line on drugs cheats and has been proactively supporting the sports governing bodies to ensure the integrity of the athletes competing in their races.
"Cheats need to understand that they are not welcome in our sport and that they will be caught."