"My fans are so important to me and I would never want to disappoint them," she said in a statement. "But it has become clear to me and those close to me that after many years of putting my work first, I need to spend some time on myself in order to be the best person I can be."
Selena recently toured the United States and Europe, playing 55 dates for her Stars Dance Tour.
The 21-year-old singer was due to do five concerts in Australia, starting in February 2014.
"She's been on the road for six months," a close source told PEOPLE magazine. "She's just ready to be normal and at homewith her family. She's been working nonstop since she was 15 and wants to take a minute to herself."
Disney Channel star Selena has been in the spotlight since starring in Wizards of Waverly Place as well as several episodes of Hannah Montana.
The young singer, who has been in an on / off relationship with Justin Bieber since 2011, has previously expressed her desire to try and live a low-key life.
"To make it [our relationship] as normal as possible in such an abnormal lifestyle was super important to both of us," said Selena about her time with the Canadian superstar.