The event was due to take place at 17:00 GMT on Sunday in Cromer, Norfolk.
Organisers said the wind would blow inland and could "blow debris into the crowds" who line the promenade, cliff top and beach.
They said the free event was the biggest New Year's Day display in the country. It will be held on 8 January.
A New Year's Day fireworks display which annually attracts 10,000 people has been postponed due to a northerly wind.