0230 GMT November 19, 2019
Authorities said celebrations would not be held after a plot to attack Brussels by militants during the holiday was disclosed.
"Unfortunately we have been forced to cancel the fireworks and all that was planned for tomorrow (Thursday) evening," said Mayor Yvan Mayeur, adding, "It's better not to take any risks."
Belgium’s federal prosecutor's office said on Tuesday that two people were arrested on suspicion of plotting attacks in the capital during New Year festivities.
It said, there was the threat of “serious attacks that would target several emblematic places in Brussels and be committed during the end-of-year holidays.”
Other European countries have also taken precautionary measures.
The annual fireworks display in Paris has been called off while Moscow's Red Square, where people usually gather to celebrate the New Year, would be closed on December 31.
Security has been heightened in other countries across the world including Austria, Australia, Thailand, Indonesia, India, Japan, the Philippines, the US and Kenya over terror threats ahead of the celebrations.
On November 13, Paris was rocked by brutal attack claimed by Daesh, which France says were planned in Belgium. The carnage took 130 lives and left hundreds more injured.
Meanwhile, Turkish police arrested two suspected members of Daesh, allegedly planning bomb attacks in the capital, Ankara.
Turkey has been on high security alert since more than 100 people were killed in twin blasts in Ankara on October 10. The attack was blamed on Daesh terrorists.
Ankara has been among the main supporters of militant groups operating in Syria, which has been grappling with a foreign-backed crisis since March 2011.