Swift was scheduled to play at the Austrian capital's Ernst Happel Stadium on Thursday, Friday and Saturday as part of her Eras Tour.
Event organizer Barracuda Music said in a post on its Instagram channel late Wednesday that "we have no choice but to cancel the three scheduled shows for everyone's safety."
Earlier Wednesday, authorities said they had arrested two suspected extremists, one of whom appeared to be planning an attack on an event in the Vienna area such as upcoming concerts.
The 19-year-old main suspect was arrested in Ternitz, south of Vienna, and the second person in the Austrian capital.
Franz Ruf, the public security director at Austria's interior ministry, said that authorities were aware of "preparatory actions" for a possible attack "and also that there is a focus by the 19-year-old perpetrator on the Taylor Swift concerts in Vienna," the Austria Press Agency reported.
Ruf said the 19-year-old had pledged an oath of allegiance to the Islamic State group.
The Austrian citizen is believed to have become radicalised on the internet. Ruf said that chemical substances were secured and were being evaluated. He didn't give more details.
