The Doomben meeting has been called off after further heavy rain soaked the track.
More than 135mm fell on the track from Thursday morning until 6am on Saturday.
Stewards and track manager Jim Roberts inspected the track at first light on Saturday.
Chief steward Allan Reardon said there was no way racing could go ahead on Saturday.
“The track is waterlogged and there is more rain on the way,” Reardon said.
“We had no choice but to postpone it at this stage.”
Racing Queensland will decide later on Saturday whether to abandon or transfer the meeting.
The Brisbane Racing Club is going ahead with its Girls Day Out functions and a phantom meeting.
The Gold Coast meeting scheduled for today has also been postponed.