The move will affect 14 dates in Asia and North America over the next three months.
Bieber has performed more than 150 shows since the tour promoting his 2015 album Purpose began in March 2016.
The tour grossed $93.2m (£71.5m) in the first half of 2017, with an average of almost 40,000 ticket sales per date.
The singer himself has not yet commented on the decision on social media, but unnamed sources told US media he was "just over it".
But a statement on his website read: "Justin loves his fans and hates to disappoint them.
"He is grateful and honoured to have shared that experience with his cast and crew for over 150 successful shows across six continents during this run.
"However, after careful consideration he has decided he will not be performing any further dates. Tickets will be refunded at point of purchase."
Most of Bieber's remaining dates were in the US, but he was also due to play in Japan, Hong Kong, the Philippines, Singapore and Indonesia.
Chinese officials said last week that the Canadian pop star had been banned from mainland China because he had engaged in what they described as "bad behaviour".
Bieber's decision comes a few weeks after British singer Adele cancelled the last two shows of her world tour on medical advice after damaging her vocal chords.
Photo: Getty Images (Bieber had been expected to play another 14 dates in Asia and North America)