Meghan was selected alongside other high-profile women, including Hillary Clinton, Oprah Winfrey and Malala, as part of US outlet Variety’s Power of Women event.
The honourees will feature on the cover of the publication’s Power of Women special edition, with an event taking place on Wednesday September 28.
But she will no longer attend out of respect for Queen Elizabeth II, after the monarch's death last week.
The announcement on Thursday comes as Meghan remains in the UK with her husband the Duke of Sussex ahead of the state funeral on Monday.
On Wednesday the couple attended the procession of the monarch’s coffin to Westminster Hall, in London, where it is lying in state ahead of the funeral.
The pair were recently reunited with the Prince and Princess of Wales at Windsor Castle, where they accepted gifts and tributes to the Queen.
Variety said in a statement: “Meghan, The Duchess of Sussex, was chosen as one of one of this year’s stellar honorees.
“The Duchess’ cover will be postponed to a later date, out of respect for the recent passing of Queen Elizabeth II.
“Similarly, she will not attend the Power of Women event in Los Angeles later this month.”
Meghan also recently paused the release of her Spotify podcast, Archetypes, for the duration of the mourning period for the Queen.
Among her fellow honourees was US talk show host Oprah Winfrey, who conducted the explosive interview with Harry and Meghan in March 2021.
Speaking recently at the Toronto International Film Festival (TIFF), Winfrey said she hoped the Queen’s death will allow the royal family to come together and provide “an opportunity for peacemaking”.
UK author and activist Malala Yousafzai will also be honoured at the event, after recently appearing at the 2022 Commonwealth Games, where she delivered a short but powerful message on the potential of young people.
The 25-year-old Nobel Prize laureate, was treated at Birmingham’s Queen Elizabeth hospital in 2012 after she was shot in the head by the Taliban aged 15, also paid tribute in her speech to those who had helped and supported her family.
Queen Elizabeth II's death is being mourned by Meghan, Duchess of Sussex
Wiki Commons/Reuters
The Duke and Duchess of Sussex paying their respects to Queen Elizabeth II on Wednesday
PHIL NOBLE