DHAKA: The electoral commission had made a last-minute announcement that the vote would be held as planned on Saturday.
But commission head Fuwad Thowfeek said police had entered his offices and were stopping officials distributing election materials.
Two candidates had sought to have the poll delayed, because they had not approved the voter register.
Late on Friday, Gasim Ibrahim and Abdulla Yameen had both sought an injunction against the poll at the Supreme Court.
They complained that they hadn`t had time to endorse the voter register - a newly introduced requirement.
The court didn`t issue an injunction but nor did it give a clear instruction for the election to go ahead.
"Only one candidate had signed the voter register and therefore it would have been a violation of the Supreme Court guidelines for the election to go ahead," police spokesman Abdulla Nawaz told the Agence France-Presse news agency, after police took action to stop the election taking place.
Last week, the Maldives Supreme Court annulled the result of the first round of the elections held in September because of alleged irregularities.
The main opposition leader Mohamed Nasheed won 45% in that poll against 5% for current President Mohamed Waheed.
Waheed has since withdrawn from the election.
Nasheed now faces two opponents - Gasim Ibrahim and Abdulla Yameen - neither of whom has approved the voter register.
Early on Saturday, Thowfeek had announced: "We will hold the election in accordance with the guidelines issued by the Supreme Court.
"The start of the voting may be delayed in some places, but we will allow more time for people to cast their ballots."
However, within hours police were at the electoral commission and Mr Thowfeek was obliged to call the election off, saying it was a "dark day for democracy".
"A new date for elections will be informed later," he said.
International observers had all praised the conduct of the first-round election, and the Supreme Court`s decision to annul it was condemned by Mr Nasheed`s supporters.
Nasheed came to power in 2008 in the Maldives` first free elections, but resigned amid violent protests and a mutiny by senior police officers in February 2012.
Mohamed Nasheed in Male, 18 October 2013 Mohamed Nasheed was first elected president in 2008
Source: BBC
BDST: 1331 HRS, 19, 2013
MR/AKA/MZR