The move comes just days after Chelsea owner Roman Abramovich's visa was denied amid the fall-out from the Russian poisoning row.
Abramovich, now an Israeli citizen, will be allowed to visit Britain for six months but isn't permitted to work for the club.
The club revealed that a time frame for the reconsideration of the decision isn't currently in place.
A statement on Chelsea's official website read: 'Chelsea Football Club announces today that it has put its new stadium project on hold. No further pre-construction design and planning work will occur.
'The club does not have a time frame set for reconsideration of its decision.
'The decision was made due to the current unfavourable investment climate.'
Stamford Bridge currently has a capacity of 41,631, and if the development plans went ahead then it would have been Europe's most expensive stadium at a cost of £1billion.
After announcing their plans to redevelop Stamford Bridge, Chelsea faced several obstacles, which included them having to settle a dispute with a neighbour who objected to the construction of the ground.
The Crosthwaite family, who own a home nearby, took out a High Court injunction last year over a 'right to light'.
In January Chelsea's request was accepted for Hammersmith and Fulham Council to intervene and compulsorily purchase an interest in land - owned by Network Rail and Transport for London - in order to override the 'right to light' principle.
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