The Mothers' Union is calling for an end to the "commercialized" tradition, which it said pressures parents into creating the largest-possible "present pile" for Christmas morning, The Daily Telegraph reported Monday.
The charity said its research indicates about 46 percent of parents have taken out loans or landed in financial trouble trying to please children during the holidays.
"We wouldn't want to spoil the traditions of Christmas but we are asking parents to consider ditching the Christmas list specifically to help reduce this sense of disappointment at what should be a time of happiness for all the family," said Reg Bailey, chief executive of Mothers' Union.
Rowan Williams, the archbishop of Canterbury, is supporting the initiative.
"There's a steady pressure on us as parents to buy things for our children. It's a pressure that comes from our children and it often reflects the sheer volume of marketing that they are exposed to on a daily basis," Williams said.