The American rock band, known for hits including Dream On, Dude (Looks Like A Lady) and Walk This Way, had already rescheduled US shows to January and February 2024 after singer Tyler "sustained vocal cord damage".
On Friday, the band updated fans to say the 75-year-old's "vocal injury is more serious than initially thought" and they would be not able to perform again until "some time in 2024".
Aerosmith's update to Instagram, read: "His (Tyler's) doctor has confirmed that in addition to the damage to his vocal cords, he fractured his larynx which requires ongoing care.
"He is receiving the best medical treatment available to ensure his recovery is swift, but given the nature of a fracture, he is being told patience is essential.
"As a result, all the currently scheduled PEACE OUT shows must be postponed to some time in 2024, with new dates to be announced as soon as we know more.
"All previously purchased tickets will be honoured for the rescheduled dates, and refunds will be available for those unable to attend once those dates are announced. Fans with questions regarding refunds should reach out to their point of purchase."
The band's website now has no current shows listed for next year.
A statement from Tyler read: "I am heartbroken to not be out there with Aerosmith, my brothers and the incredible Black Crowes, rocking with the best fans in the world. I promise we will be back as soon as we can."
The Aerosmith line-up, which includes Joe Perry, Tom Hamilton, Joey Kramer and Brad Whitford, had announced the farewell tour in May.
The run of shows, which had included a stop in the band's hometown of Boston on New Year's Eve, was set to end on January 26 2024 in Montreal.
Aerosmith, formed in Boston in 1970, are one of the most popular acts of all time, with 150 million records sold around the world.
In 2001, they were inducted into the Rock And Roll Hall Of Fame and performed the Super Bowl half-time show. They have collected four Grammys during their time together.
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