The Metal Gear Solid and Zone of the Enders creator said that the unannounced project he was working on became "meaningless".
"What I prepared minutely spending a year became meaningless," he revealed over Twitter.
Moments before, he had posted: "I cannot bear, and cannot be positive."
In October, he announced that he was working on a new game with ten other core team members at Hideo Productions.
In 2009, the developer revealed that he wanted to create a "completely innovative" game for Microsoft's Kinect peripheral.
Yesterday, it was rumoured that a PS3 version of Metal Gear Solid: Peace Walker will be announced at E3 next month.