The Judgement Day concept started in 2013 with more than 68,000 turning up at the Principality Stadium in 2016 but the event’s popularity has waned in recent years.
The 10th edition of the event in its current guise was staged at the Principality Stadium this April and attracted a crowd of 28,328.
This was the lowest attendance of the nine Principality Stadium occasions, although the crowd figure was 8,000 fewer when the event was switched to Cardiff City Stadium in 2024.
Ospreys head coach Mark Jones and Scarlets captain Josh Macleod say they hoped the event could have a future if the crowds could be coaxed back.
“We will rethink the product we are offering and bring back an event to showcase Welsh professional rugby in the future,” said a PRB spokesperson.
“The concept has huge potential and its early incarnations were a proven success, but we think it is time to re-imagine it.
“Instead, this season will see Welsh rugby concentrate on attracting maximum crowds for the respective derby days and other showcase fixtures at our home venues.”
In contrast, more than 50,000 attended the Bath versus Bristol league game for an historic English league game staged at the home of Welsh rugby in May.
Bath and Bristol will return to the Principality Stadium next season for what they bill as the ‘Big Day Out.’