Five races were planned for the day, with post time scheduled for 2:00 pm.
Four horses from St Thomas, US Virgin Islands, had already made the trip to Tortola for the races.
Additionally, the Rotary Club of Tortola was scheduled to use the event for its $20,000 grand raffle drawing. That has also been postponed.
President of the VI Horse Owners Association Mr Lesmore Smith said a meeting is planned today among horse owners from the VI and USVI to agree on a new date for the races.
The Department of Disaster Management (DDM) said today that as Tropical Storm Earl continues to move away from the area, lingering moisture and instability associated with its passage, will keep the chances for cloudiness and showers high across the Leeward Islands and [British] Virgin Islands today and tonight.
The Rotary Club of Tortola's $20,000 grand raffle drawing, which would have coincided with the horse races, has also been postponed.