Only a few dozen players made it out for the start of the opening round on Thursday at the Talons Course at Country Hills Golf Club in the city's northwest end. Play was stopped after just 82 minutes because of wet weather.
Play was postponed again Friday morning with organizers hoping that a 36-hole competition could be completed over the weekend. But PGA Tour Canada president Jeff Monday announced later in the day that the tournament had been scrubbed.
"Given the increasing severity of the emergency situation the greater Calgary community is being forced to deal with we have made the decision to cancel the tournament at this time," Monday said in a statement. "We are working with the sponsors, the tournament organization and the Country Hills Golf Club management team to explore the possibility of rescheduling the tournament later this year.
"Our thoughts are with the families and communities affected by the flooding."
Canadian Armed Forces troops and helicopters have been sent to Alberta to help deal with the flooding. In Calgary, entire neighbourhoods along the Bow and Elbow Rivers have been evacuated, forcing as many as 100,000 people from their homes.