Ukrainian Klitschko (64-3) was due to defend his IBF, WBO, IBO and WBA belts against the unbeaten Fury (24-0) in Dusseldorf on October 24.
However, the bout has been called off due to Klitschko's injury, with the 39-year-old hoping to reschedule the fight.
"Dear fans I'm sorry to inform you I have to postpone my fight against Tyson Fury due to a minor injury," he said in a video on Instagram.
"I'm working hard to reschedule the fight and as soon as I know I'll keep you posted about the new date."
Fury also took to social media to respond to Klitschko's news.
Well it's official @Klitschko has pull out of the fight with an injury in his leg, it's a bit funny as I predicted this would happen!!!😁😁😁👴🏼
— Gypsy King (@Tyson_Fury) September 25, 2015 Don't feel sorry for me I'll b ok, I'm sorry for the fans again as they are the biggest losers hear. Flights & hotels travel, sorry guys🙏🙏🙏
— Gypsy King (@Tyson_Fury) September 25, 2015 There had been plenty of intrigue ahead of the fight, with Fury making no secret of his desire to topple Klitschko.
Earlier this week Fury was labelled as a 'clown' by Klitschko after turning up to a news conference dressed as Batman and grappling with an audience member dressed as the cape crusader's nemesis The Joker.
Fury then proceeded to launch a verbal attack on Klitschko before changing into his normal attire.