The Confederation of African Football made the decision on Friday after a meeting of its executive committee. Its president, Ahmad Ahmad, announced a new bidding process was to be opened.
Countries have until the end of December to submit bids for the tournament, which starts in June.
Morocco, which lost out to a joint United States-Canada-Mexico bid for the 2026 World Cup, has been touted as a replacement host.
CAF said in September that there was a “significant delay” with the building of stadiums and related infrastructure but gave Cameroon a final chance by planning two more inspection visits in October.
One of those was to assess the security situation after an escalation in violence in the south-west and north-west of the country involving English-speaking separatists and government forces.
Cameroon won the most recent Africa Cup of Nations in 2017.