Harper Collins was to publish the 61-year-old rock 'n' roll icon's "The Book of Joel" this summer.
The Post said Joel was paid a $2 million advance for the 368-page book, co-written by celebrity profiler Fred Schruers.
One music industry source told the newspaper the thrice-divorced Joel, who has been in and out of rehab several times, may not have wanted to relive certain episodes of his past in writing the book.
"He never fully confronted the 800-pound gorilla in the room. There needs to be a lot of dish in rock memoirs," the source said.
The Post said Schruers has declined to comment.