The 38-year-old "All Day" rapper will replace the Odd Future member to perform a 75-minute set at the festival in Los Angeles on August 22 and 23, reported Aceshowbiz.
"Frank Ocean has decided on his own terms to cancel his appearance," the statement on FYF's website read.
Ocean's decision to cancel his headlining gig at FYF Fest comes while his fans were anticipating his new album.
Earlier this year, the Odd Future Wolf Gang Kill Them All affiliate hinted that the follow-up to his 2012 Grammy-winning LP "Channel Orange" would be released in July.
D'Angelo, Flume, FKA twigs, Solange Knowles, Toro Y Moi, Laura Marling among others will perform at the event.