It had been slated to be online as soon as 2020.
"Nautilus is no longer in development," confirmed an EDF Renewables spokeswoman.
By way of explanation, she cited the fact that state regulators in December had rejected the project for the third time.
The state Board of Public Utilities (BPU) had said that the project failed to demonstrate the necessary benefits to the state.
Under the state's Offshore Wind Economic Development Act, the project "must demonstrate positive economic and environmental net benefits to the state", said the board.
"The price quoted by Nautilus was too high given the unsubstantiated benefits, and therefore an unacceptable burden for the state's ratepayers," said the BPU in a statement.
The site was located only 4.5km off the resort destination of Atlantic City and was being developed by EDF and Fishermen's Energy. The €147m project would have used three MHI Vestas 8.3MW turbines.
First proposed a decade ago, it had been fully consented since 2012.
The cancellation comes even as New Jersey is charging ahead with offshore development. In September, the regulators launched opened the largest single-state solicitation in the US, for 1.1 GW of capacity.
The state is to award its first offshore wind solicitation later this month. New Jersey's governor Phil Murphy has a goal of 3.5GW of offshore wind by 2030.