"Times have changed and we are changing with the times," the organisers of the pageant said in a statement.
Instead of running the competition, director Monica van Ee has set up a platform entitled "no longer of this time."
This platform aims to share stories of successful women but also those struggling with, among other things, social media and unrealistic beauty standards.
"No more crowns, but stories that inspire. No dresses, but dreams that come to life," organisers said.
Van Ee said in a blog post on the new platform that her involvement in the pageant aimed to give young woman a springboard and show others what was possible.
"Perhaps a sash and a crown are no longer of this time. But women who support each other and help each other, that is timeless for us," she said.
The competition made headlines in 2023 when Rikkie Kolle, then 22, became the first transgender woman to win the pageant.
Kolle told AFP in an interview she hoped her victory would be an inspiration to young people from the transgender community.
Van Ee said the new platform should be "a place to show your authentic self and a world where we celebrate real life. Without the pressure to conform to a perfect image."
