The heavyweight fight had been labelled as a 'semi-final eliminator' by the WBC between their third and fourth-ranked contenders.
But the German-based Russian is 'not in the shape to contest such a duel' according to promoters Universum, who are hoping to re-schedule for next year.
Boytsov would have been Fury's toughest assigment to date with the unbeaten 26-year-old having stopped 25 of his 31 opponents.
Fury has won his last four by TKO and claimed the WBO Inter-Continental title when beating American veteran Vinny Maddalone in July.
He had been hoping to take on Ruslan Chagaev next month but the former WBA champion has opted to fight knockout artist Mike Perez instead.