Blists Hill Victorian Town, near Ironbridge, had been due to stage its annual extravaganza on Saturday evening.
But the event has now been cancelled after advice from the 'firework display partner' warned that predicted winds are too strong for the display to go ahead safely.
Organisers today apologised and promised refunds will be given to everyone who had bought tickets.
A statement said: "We are sorry to announce that we have had to cancel this Saturday's Fireworks Night event at Blists Hill Victorian Town.
"Having reviewed the weather for the evening and following advice from our firework display partner the predicted winds forecast are too strong to allow our firework display to go ahead safely.
"We are very sorry and we share your disappointment at not being able to run the event this year.
"We will be arranging refunds for everyone who has purchased tickets for this event straight back to your original payment card - you will not need to do anything at all.
"We will be in touch by email over the next few days to confirm details of your refund.
"Please do accept our sincerest apologies for any inconvenience and disappointment caused."
The Met Office is predicting winds of around 21mph between 6pm and 9pm on Saturday, when the event was due to be staged. Forecasters say the evening should stay dry, while temperatures are likely to be around 11C (52F).
Alongside the firework display, iron casting, fire eating, fire breathing and fire spinning was planned at the popular attraction, as well as the usual Victorian-dressed characters.
Firework displays at Wellington Cricket Club, Albrighton Cricket Club and Shrewsbury's West Mid Showground are still set to go ahead on Saturday night.
Weston Park's annual bonfire takes place on Sunday.
Find out where and when to find your nearest firework display with our full guide here.