The decision was made after a survey of club representatives highlighted only three of the eight clubs were confident of fielding enough players for a team.
The league's advisory committee met on Tuesday night to review the survey and decided a season was not viable.
A statement released on Wednesday outlined why the committee came to its decision.
“This decision followed the survey results that were returned by club representatives in the previous week,” the statement read.
“The survey showed that of the eight clubs, there were only three that were confident that they would be able to provide enough players to form a team, which was not enough to make a viable or workable competition.”
The verdict means the league is the latest district sports competition to abandon its season due to the impact of the coronavirus pandemic.
Shepparton Bears women's coach Brad Smith said it was a devastating blow for his players, revealing the club was unsure whether it could have fielded a side.
“Absolutely disappointed, more so for our players who were gearing up for either their first crack at footy or a crack at a higher level,” he said.
“We (Shepparton) were on the fence when it came to being able to field a side.
“We really couldn't guarantee that we could get the numbers together after only hosting a few training sessions earlier this year.
“It's just disappointing for this growing sport, but hopefully next year the NCWL and Shepp Bears can have a strong season.”
NCWL chairman Chris Thomas also pointed out a number of other factors played into the cancellation of the season.
“Uncertainty remains, even beyond June 22, as the restriction and limitation on numbers of gatherings at training sessions and games are unknown,” Thomas said.
“Money raising efforts through limited numbers at canteens and club rooms would further restrict the revenues needed to operate the games.
“All these factors have been considered by the league to form the decision that it is in the best interests of the NCWL community to cancel the season.”
Thomas went on to say despite the difficult choice to cancel the season, it will allow the league and its clubs the chance to start early preparations for next year.
He pointed out that "pre-season competitions and come’n’ try sessions" could be organised in the absence of the season.
“By providing some certainty for the 2020 season, even though it is not great news, it frees the NCWL community up to plan ahead ... to cater for the increasing interest in women’s and girls’ football.”