The White House said the GOP requested the change due to scheduling conflicts, but some analysts suggest that growing tension between Republicans and the president were to blame.
The meeting was intended to be the first of top Republicans and Democrats with the president after the GOP made significant gains in the Nov. 2 elections, winning control of the House and cutting the Democratic majority in the Senate.
Political experts expected the meeting to show how both sides of the political spectrum would approach key issues such as extending Bush era tax cuts, reducing the nation's mounting deficit and tackling unemployment.
The rescheduling of the meeting is just one of a series of setbacks for the president. Just yesterday, his effort to get Republican backing in the Senate for a new START nuclear treaty with Russia stalled.
The Obama administration and Democrats are still grappling with how to negotiate with Republicans, many of whom campaigned on the promise to undo Obama's signature policies including the health care overhaul and Wall Street reform.
A spokesman for Senate Republican Leader Mitch McConnell said he was encouraged that Obama wanted to discuss issues on which both political parties agree.
"We'll have a meeting so that we can discuss issues that Republicans have long said can be accomplished together," spokesman Don Stewart said. "These include reducing spending, growing jobs through increased trade and increasing domestic energy."
After the elections, Obama called for "putting politics aside."
When the meeting does happen, the White House said the tax discussion would be a main topic.
On Nov. 4, White House spokesman Robert Gibbs signaled that Obama might consider a compromise with Republicans that would keep tax breaks not only for the middle-class but for wealthier Americans as well.
Our question to you today: President Obama Postpones Meeting With Congressional Leaders: Is This a Bad Sign For Bipartisanship?
The Associated Press contributed to this report.