The IAAF has decided to remove Stockholm from the Diamond League calendar next year, the meeting's organisers said on Friday.
The International Association of Athletics Federations (IAAF) will also cut the amount of events from 32 to 24 in an attempt to make it easier to understand.
The 5,000 metres has already been removed, and the Stockholm organisers said on Friday that the IAAF is also considering dropping the discus.
"We can now freely decide how to use our finances and we are no longer bound by the rules of the Diamond League," said the Stockholm meeting director Jan Kowalski.
The meeting will continue outside of the prestigious Diamond League, having been part of the circuit since the inaugural edition in 2010.
Local Swedish stars Daniel Stahl, the discus world leader, and Armand Duplantis, the European pole vault champion, have already announced they will compete at the next edition on May 24, 2020.