GETTY IMAGES / Bieber had been expected to play another 14 dates in Asia and North America
The move affects 14 dates in Asia and North America which were coming up over the next three months.
Bieber told celebrity news website TMZ.com: "I'm sorry for anybody who feels disappointed or betrayed."
The singer has performed more than 150 shows on the tour, promoting his 2015 album Purpose, since March 2016.
The tour grossed $93.2m (£71.5m) in the first half of 2017, with an average of almost 40,000 ticket sales per date.
The singer recently performed in Hyde Park
Bieber added: "I have been on tour for two years. I'm looking forward to just resting, getting some relaxation and we're going to ride some bikes."
The singer's manager, Scooter Braun, posted on Instagram: "To Justin, who gave it his all night after night, thank you.
"And to those that won't be able to see it... on behalf of myself, Justin, and the team, we are sorry. That was never our intent. But a man's soul and wellbeing I truly care about came first and we must all respect and honour that.
"Justin will be back and I know he looks forward to performing for you and with you all again. One chapter ends and another begins."
A statement on Bieber's website read: "Justin loves his fans and hates to disappoint them.
"He is grateful and honoured to have shared that experience with his cast and crew for over 150 successful shows across six continents during this run.
"However, after careful consideration he has decided he will not be performing any further dates. Tickets will be refunded at point of purchase."
Most of Bieber's remaining dates were in the US, but he was also due to play in Japan, Hong Kong, the Philippines, Singapore and Indonesia.
Chinese officials said last week that the Canadian pop star had been banned from mainland China because he had engaged in what they described as "bad behaviour".
Bieber's decision comes a few weeks after British singer Adele cancelled the last two shows of her world tour on medical advice after damaging her vocal cords.