Mr Peters was due to travel to Samoa, Tonga, Niue and the Cook Islands later this month.
With a delegation of MPs, government officials, community leaders and journalists, the minister was to leave New Zealand on 22 March for the week long mission.
But the Ministry of Foreign Affairs and Trade said "regretfully" it had deferred the mission.
It said the decision was made "in light of the pressure that the preparation and response to the coronavirus was placing on Pacific governments".
