Bill Cosby 77 was to have been streamed from 27 November. It is not clear when or if the special will now be shown.
Netflix's announcement came shortly after Tuesday's airing of an interview with a model and TV host who claimed Cosby sexually assaulted her in 1982.
Cosby's lawyer previously said the comedian would be making no comment.
John P Schmidt said the allegations were a "decade-old [and] discredited" and that he did not intend to "dignify [them] with any comment".
A follow-up statement amended the earlier denial to say it did not refer to Andrea Constand, an accuser whose civil action against him was settled in 2006.
The latest allegation came from TV presenter Janice Dickinson, who accused Cosby of sexually assaulting her after a dinner date in Lake Tahoe, California.
"The next morning I woke up and I wasn't wearing my pyjamas," she told Entertainment Tonight. "I remembered before I passed out that I had been sexually assaulted."
Dickinson claimed she had written about the alleged assault in a 2002 autobiography but had been pressured by Cosby's lawyer and her publisher to remove the details.
Dickinson, a contestant in the 2007 series of I'm a Celebrity... Get Me Out of Here!, is one of several women to have accused Cosby of sexual assault going back almost 30 years.
Cosby remained silent during an NPR radio interview that aired on Saturday when he was asked to comment on the accusations levelled against him.
The veteran comedian is best known for playing Cliff Huxtable, benign patriarch of an African-American family in hit US sitcom The Cosby Show.

Tomasz Galwaz, 29, died after falling from the roof of Al Amin Wholesale in Aston, Birmingham on 5 January 2015.
Mafizur Rahman, 32, of Trinity Road, Aston, pleaded guilty to manslaughter at Birmingham Crown Court in December.
Police said his main priority had been to get roof repairs done as cheaply as possible with disregard to the safety of workers.
Al Amin Wholesale Limited, the company who own the buildings, also pleaded guilty to two breaches under the Health and Safety at Work Act.
The firm was also fined Â£144,000 and ordered to pay costs of Â£44,600.
See more stories from across Birmingham and the Black Country here
Mr Galwaz and a friend were employed by Rahman in December 2014 to carry out repairs to the roof of the warehouse in Grosvenor Road, owned by his brothers and father, police said.
The deal was carried out through an interpreter as the two Polish men spoke little English. Police were later told by the interpreter that there were no discussions around safety procedures, personal protective equipment or risk assessments. There was also no mention of insurance.
The men were working on the roof on 5 January when it cracked and they both fell through on to a concrete floor.
Mr Galwaz was taken to hospital with a serious head wound and died from his injuries the following day.
The second man suffered minor injuries.
Det Insp Jim Munro, from West Midlands Police, said: "Rahman's main priority was to get the job done as cheaply as possible with complete disregard for the safety of these workers âˆ’ with tragic consequences."
A second man also arrested in January 2015 on suspicion of manslaughter was released without charge.

The crash, which happened at the Rising Sun in North Bradley near Trowbridge at about 06:00 GMT, left a huge hole in the front of the building.
Wiltshire Police said the driver was taken to Bath's Royal United Hospital for treatment to his injuries, which are not thought to be serious.
Nobody was inside at the time of the crash, officers said. The building has been deemed to be structurally safe.
The road next to the pub was closed for several hours but has since reopened.
Streaming service Netflix has postponed a Bill Cosby comedy special in the wake of allegations of sexual assault that have resurfaced in recent weeks.
[NEXT_CONCEPT]
A businessman has been jailed for 30 months after a man plunged to his death from a warehouse roof.
[NEXT_CONCEPT]
A lorry driver has smashed through the front wall of a pub in Wiltshire.