The show was slated to continue on to Broadway after its winter 2008 run at the Geffen, Playbill.com reported Friday.
"I am unfortunately withdrawing from 'Female of the Species' for personal reasons," Bening said in a statement. "I think it is a fantastic play and I wish everyone associated with it all the best."
"As Annette's longtime friend and colleague, we understand that this decision is a personal one, and we respect that," added Gil Gates, producing director at Geffen Playhouse.
"Annette has been a dynamic presence on our stage in the past, and we have no doubt we'll welcome her back in the future. Live theater always means surprises. We wanted to communicate Annette's situation with our subscribers and supporters as soon as possible. We're exploring a range of options. Stand by for more information -- we'll share it as soon as we have it."