The Terminator star, who announced his split from wife Maria Shriver earlier this month, reportedly made the decision after it was revealed that he fathered a child with a member of his house staff during his marriage.
A statement from Schwarzenegger's lawyer reads: "At the request of Arnold Schwarzenegger, we asked Creative Artists Agency to inform all his motion picture projects currently under way or being negotiated to stop planning until further notice.
"Gov. Schwarzenegger is focusing on personal matters and is not willing to commit to any production schedules or timelines. This includes Cry Macho, the Terminator franchise and other projects under consideration. We will resume discussions when Gov. Schwarzenegger decides."
Cry Macho, which is currently in pre-production, was due to mark the 63-year-old's return to Hollywood, but the film's producer Albert Ruddy has declined to comment.
Earlier this week, Ruddy insisted that the "scandal" was "totally irrelevant" and said that filming would still go ahead.
Schwarzenegger was also believed to be involved in a fifth instalment of the Terminator franchise directed by Fast Five helmer Justin Lin.
> Arnold Schwarzenegger's wife 'heartbroken'