The 'Piano Man' singer announced plans earlier this month to pen his autobiography for Harper Collins, which was scheduled to hit stores in June.
However, in a statement released to The AP on Thursday, Joel insisted that he has no interest in rehashing his past and decided to forgo completion on the title.
"It took working on writing a book to make me realise that I'm not all that interested in talking about the past, and that the best expression of my life and its ups and downs has been and remains my music," he said.
The book was said to discuss elements of his life that "he has never revealed before", including details about his substance abuse problems, failed relationships and music career.
HarperCollins spokeswoman Tina Andreadis later confirmed the cancellation, going on to reveal that the book was in the editing stages but had not yet been finalised or printed.
Joel's longtime friend Elton John recently suggested that the 62-year-old needed to enter rehab for alcoholism, a claim which Joel later dismissed.