The Queen’s granddaughter was due to marry Edoardo Mapelli Mozzi on 29 May, with the reception being held at Buckingham Palace.
The spokesperson said the reception has been cancelled, with the couple wishing to avoid “unnecessary risks”.
They will consider government advice before deciding whether to hold a smaller ceremony, taking into consideration “the wellbeing of older family members and large gatherings of people”.
The full statement read: “Princess Beatrice and Mr Mapelli Mozzi are very much looking forward to getting married but are equally aware of the need to avoid undertaking any unnecessary risks in the current circumstances.
“In line with government advice for the UK and beyond, the couple are reviewing their arrangements for 29th May.
“They are particularly conscious of government advice in relation to both the wellbeing of older family members and large gatherings of people. Therefore, the planned reception in the Buckingham Palace Gardens will not take place.
“The couple will carefully consider government advice before deciding whether a private marriage might take place amongst a small group of family and friends.”