The British Olympic Association (BOA) and UK Sport have backed the decision to postpone the Games due to the coronavirus crisis.
The event in Tokyo, Japan, was due to begin on July 24 but will now take place 'no later than summer 2021' according to the International Olympic Committee.
The Tokyo Paralympic Games will also be postponed until 2021. BOA chief executive Andy Anson said: "It is with profound sadness that we accept the postponement, but in all consciousness it is the only decision we can support, in light of the devastating impact COVID-19 is having on our nation, our communities and our families. "Alongside UK Sport and the BPA (British Paralympic Association), we have consulted with the National Governing Bodies of summer