The palace said in a statement that the queen had "regretfully decided" that she will no longer travel to the event in Glasgow in accordance with medical advice.
"Her Majesty is disappointed not to attend the reception," Buckingham Palace said, adding that she would instead deliver a recorded video address.
Full coverage: Latest news and updates on Queen Elizabeth II
Elizabeth, 95, the world’s longest-reigning monarch, stayed at London’s King Edward VII private hospital last Wednesday after she underwent “preliminary investigations” for an unspecified ailment, which was not related to Covid-19.
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It was the queen’s first overnight hospital stay in years. Officials said she was in good spirits after the visit, returning to light duties upon her return to Windsor Castle the next day.
Earlier Tuesday, Buckingham Palace announced that Elizabeth had also conducted her first official engagements since her hospital stay.
Elizabeth canceled another planned official trip to Northern Ireland last week after her medical team suggested that she rest.