The Welshman has become one of the biggest names on the oche in recent years and won the PDC Darts World Championship in 2021.
Price - who previously played rugby league and union - has now decided he wants to try another sport in boxing.
The former world number one was expected to make his ring debut against Rhys Evans at Valley Tavern on April 9 in a charity bout.
However, the 37-year-old has been forced to put it on hold after picking up an injury to his hand in March. He pushed through in recent events and his determination was on show as he won the Players Championship in Germany.
"I was still in discomfort with my hand so I went back to the hospital and the X-ray showed a small fracture," said Price of his injury.
"The usual course of action would be to be put in plaster for four weeks, but with the Premier League and other events, that's not something I wanted.
"I'll be wearing the splint now other than when I'm playing darts, and making sure that I rest the hand enough when I'm not to allow it to heal properly. I've shown that I can still play good darts despite the injury and I'll be trying my hardest to get the [Premier League] win in Birmingham on Thursday."
The night of boxing action had been put together in aid of Cancer Research Wales, St David's Hospice Care and the Velindre Cancer Centre. The fight has now been rescheduled and fans can see Price in action on May 13.
Three-time darts world champion Michael van Gerwen will be relieved about the news after warning Price about the risk in fighting with his injury.
"I don't think boxing is good for your body, I think you can get injured. I think it's not the best decision to make in your life but Gerwyn is Gerwyn," Van Gerwen told the Daily Star.
"He always does things differently so that's his own thing. I don't think he's going to do the fight now with his hand. I'd be surprised. It's something he likes to do and good luck.
Asked whether he would lace up a pair of gloves, he added: "No! What do I look like? A boxer or a dart player?"