The Masters will be held in Milton Keynes in order for stringent Covid-19 regulations to be followed.
The tournament, which is due to start on Sunday, has been held at London's Alexandra Palace for the last nine years, but it will now be staged at Arena MK, the location for a host of snooker and darts events during the coronavirus crisis.
A strict bubble will be formed, with all players tested the day before their first match and required to stay within the bubble for as long as they are in the tournament, which will be played behind closed doors.
World Snooker Tour chairman Barry Hearn said: "It’s disappointing for everyone connected with the event not to be heading to its spiritual home at Alexandra Palace.
"However our highest priority is always health and safety, and that is the basis of this decision.
"We must take all necessary steps to ensure that the event will go ahead and provide fantastic entertainment for many millions of fans throughout the world."
The recent PDC World Darts Championship was successfully held at Alexandra Palace.
