The 30-year-old star took to Twitter to share the information with her followers.
The star has also expressed her sadness for not being able to meet her fans in concerts this year.
Swift tweeted: "But I know this is the right decision. Please, please stay healthy and safe. I'll see you on stage as soon as I can but right now what's important is committing to this quarantine, for the sake of all of us."
The 'Love Story' singer in an official statement confirmed that Brazil and US dates would be rescheduled for 2021, with tickets for this year's shows being transferred to the new dates automatically.
The statement also noted that customers could request refunds if necessary.
Swift is the latest to join many other musicians including Justin Bieber to cancel the scheduled tour dates as a precautionary measure to contain the virus.
Bieber, at the beginning of April, announced postponing all of his scheduled 2020 concerts for his 'Changes Tour' due to the global outbreak of coronavirus.
( With inputs from ANI )