The market, which was due to take place on Saturday (February 22) has been called off due to strong gusts.
Last week's market also had to be cancelled because of the poor weather and Kenilworth market, which was due to be held on Thursday (February 20) was also cancelled.
Jamie Walker from CJ's Events Warwickshire said: "This is the second market cancelled this week by ourselves. Kenilworth market was cancelled on Thursday, we’re now cancelling Warwick market tomorrow.
"Whilst no Weather Warning has been put in place, gust speeds are reaching 40mph throughout tomorrow, as forecasted by the Met Office.
"This is not an ideal situation and we appreciate cancelling two markets in one week has a knock on effect to ourselves, traders and visitors, but we will not put life at risk to all involved.
"Stalls can become very dangerous in strong winds or gusts, so safety is a priority.
"We know many traders and visitors will be upset by this decision, but hope you can understand safety must take priority."