CNN Worldwide spokeswoman Allison Gollust said the director, Charles H. Ferguson, was "not moving forward " with the film, Politico reported.
In a blog post on Huffington Post, Ferguson said, "nobody, and I mean nobody, was interested in helping me make this film."
"Not Democrats, not Republicans – and certainly nobody who works with the Clintons, wants access to the Clintons, or dreams of a position in a Hillary Clinton administration," he added.
"After approaching well over a hundred people, only two persons who had ever dealt with Mrs. Clinton would agree to an on-camera interview," Ferguson said, "and I suspected that even they would back out."
The director said after he signed his contract, Clinton staff members Nick Merrill and Philippe Reines called CNN and "expressed concern about alleged conflicts of interest generated because my film was a for-profit endeavor."
The Republican National Committee also banned CNN from hosting or sponsoring Republican primary debates.
Ferguson called his decision to cancel the project "a victory for the Clintons, and for the money machines that both political parties have now become."
Hillary Clinton "has many virtues," the director said." But this is not her finest hour."