Officials said the game between defending champions Mamelodi Sundowns and Kaizer Chiefs will now take place on Tuesday.
Two days of solid rain have left the pitch unplayable for the planned Saturday game.
Referee Daniel Bennett inspected the pitch and at 4pm called it off.
"After long discussions, we have decided to call the game off for the safety of the players," said Bennett.
Attempts by the PSL to get a machine from Kingsmead cricket ground to help dry out the surface were canceled.
"We had the cricket guys over to see but they said it was far too wet," explained PSL Chief Operations Officer Ronnie Schloss.
"We've also called the weather bureau and they say it will keep on raining until Sunday lunch-time," he told KickOff.com.
The surface had large puddles of water at 4pm and the rain was continuing to fall. It was not raining hard but steadily.
The game has been rescheduled to Tuesday at the same venue, with the kick-off time remaining at 20h15.