The ban was announced as his presence would "not be conducive to public good", Sky News understands, after a backlash over the rapper being booked to headline all three nights of the London event.
West, who is also known as Ye, has been heavily criticised for antisemitic remarks and celebrating Nazism, which have led to his social media accounts being blocked on numerous occasions.
Following the government announcement, Wireless organisers quickly released a statement saying the festival would no longer go ahead, adding that holders of presale tickets - made available only a few hours earlier - would be refunded.
"The Home Office has withdrawn Ye's ETA [electronic travel authorisation], denying him entry into the United Kingdom," promoters Festival Republic said in a statement. "As a result, Wireless Festival is cancelled and refunds will be issued to all ticket holders."
Major sponsors, including Pepsi, Rockstar Energy and Diageo pulled out, of the event over the bank holiday weekend, and the booking had faced criticism from the prime minister, other politicians and Jewish community groups.
In their statement, Festival Republic said "multiple stakeholders" had been consulted in advance of booking West - and "no concerns were highlighted at the time".
They continued: "Antisemitism in all its forms is abhorrent, and we recognise the real and personal impact these issues have had. As Ye said today, he acknowledges that words alone are not enough, and in spite of this still hopes to be given the opportunity to begin a conversation with the Jewish community in the UK."
Prime Minister Keir Starmer posted online after the ban was announced.
"Kanye West should never have been invited to headline Wireless," he said. "This government stands firmly with the Jewish community, and we will not stop in our fight to confront and defeat the poison of antisemitism."
In recent years, West has posted antisemitic comments on social media, directed people to a swastika T-shirt during a Super Bowl advert, and released a song referencing Hitler.
What has Kanye said?
He issued a public apology for his past behaviour in January, blaming his behaviour on having bipolar-1 disorder, and saying he had "lost touch with reality".
Before the government's announcement, he released a statement saying he hoped to come to London "and present a show of change, bringing unity, peace, and love through music".
He also said he wanted to meet with members of the Jewish community in the UK "in person, to listen", and added: "I know words aren't enough - I've have to show change through my actions."
But many critics said his words were not enough.
Phil Rosenberg, president of the Board of Deputies of British Jews, told Sky News the government had made the right decision, but that it was "deeply regrettable" that he was booked in the first place.
"Wireless has now been cancelled, but it should never have reached this point," he said. "The situation could and should have been resolved much earlier.
"We hope that lessons are learned across the industry. Music festivals should be places where all communities feel welcome, not venues that platform individuals with records of profiteering from antisemitism, racism, and other repulsive views."
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The government has discretion to ban foreign nationals from the UK if their presence is not considered "conducive to the public good".
A ban can be ordered by the home secretary personally, and government guidance states it will normally involve serious issues such as national security, war crimes, corruption or extremism.
It's understood an application for West to travel to the UK was made on Monday via an electronic travel authorisation, and while it was initially granted online, ministers subsequently intervened to block his entry.
Walker Smith, who had been with the supermarket for 17 years, was dismissed two days after getting into a brief struggle with the thief, who was trying to steal Easter eggs.
He told the Guardian he was reprimanded by his manager and apologised, but the issue was escalated, and he lost his job at the shop in Clapham, south London.
Posting next to an article on the story on LinkedIn, Lord Richard Walker, executive chairman of Iceland and the government's cost-of-living champion, posted: "You're welcome to a job with us. We even share the same name…"
It's not known if Mr Smith has responded to the offer.
Lord Walker also suggested in an interview last week that security guards should carry truncheons and pepper spray to deal with the violence they encounter.
The Conservatives have urged Waitrose to reinstate Mr Smith, but the firm said in a statement he had broken rules designed to protect staff from a "serious danger to life".
"We refuse to put anyone's life at risk and that's why we have policies in place that are very clearly understood and must be strictly followed," it said.
Shadow home secretary Chris Philp wrote to the company's boss on Monday and said the sacking sent "entirely the wrong message" and "penalises those who act".
Marks & Spencer has also called for tougher action on shoplifting - with some stores now forced to security tag items such as chocolate, butter and meat - and staff increasingly facing violence.
Retail director Thinus Keeve warned retail crime was getting "more brazen, more organised and more aggressive" in a letter criticising the government and London mayor Sadiq Khan.
M&S chief executive Stuart Machin also wrote to the home secretary following recent antisocial behaviour in Clapham that saw crowds of young people trying to storm shops.
The Office for National Statistics said last year that more than half a million shoplifting offences had been recorded by police in England and Wales for the first time.
Countless more are believed to go unreported as retailers often say it's not worth reporting due to perceived lack of action by police and weak punishments.
Mills, 53, was sacked by the BBC after bosses discovered the alleged victim in a police investigation into allegations of sexual offences made against the DJ was under the age of 16.
In a statement, MS Society said: "Scott Mills has been a valued MS Society ambassador for over 10 years. In light of the current news, Scott is stepping back from this role while we review the situation.
"We take concerns of this nature and the trust placed in us as a charity extremely seriously."
MS Society is the largest organisation dedicated to helping those living with MS, a currently incurable condition that affects the brain and spinal cord.
Mills, whose mother has MS, originally became an ambassador for the charity in 2015.
It is understood that Mills will also lose his honorary doctorate of arts from Southampton Solent University when the institution's honorary doctorate scrutiny panel meets later in April.
Mills had his BBC contract terminated on 27 March over an allegation relating to his "personal conduct".
It later emerged that the Metropolitan Police had launched an investigation into Mills in December 2016 over "allegations of serious sexual offences against a teenage boy".
The offences were said to have taken place between 1997 and 2000, when Mills would have been in his mid-20s.
However, the police force said the Crown Prosecution Service ultimately decided "the evidential threshold had not been met to bring charges", and that the case was closed in May 2019.
In his first public statement since his sacking, Mills said: "The recent announcement that I am no longer contracted to the BBC has led to the publication of rumour and speculation."
He went on to say: "An allegation was made against me in 2016 of a historic sexual offence, which was the subject of a police investigation in which I fully cooperated and responded to in 2018.
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"As the police have stated, a file of evidence was submitted to the Crown Prosecution Service, which determined that the evidential threshold had not been met to bring charges.
"Since the investigation related to an allegation that dates back nearly 30 years and the police investigation was closed 7 years ago, I hope that the public and the media will understand and respect my wish not to make any further public comment on this matter."
The vice president arrived in Budapest, Hungary's capital, on Tuesday for the two-day visit, during which he is has met Mr Orban and is due to appear at one of his campaign rallies.
It is a clear signal of the extent to which Donald Trump and his administration support the long-serving prime minister, who has fallen behind his rival in the polls and appears to be facing the prospect of losing his grip on power after more than 16 years, when Hungarians vote in parliamentary elections on Sunday.
Here, Sky News looks at why this could be such a significant election for Hungary, why Mr Orban has Mr Trump's support, and at Peter Magyar, the opposition leader who could finally unseat the prime minister.
Why could this election be so momentous?
Mr Orban and his Fidesz party are facing their most challenging election since they returned to power, after eight years in opposition, in 2010.
Most independent polls put Mr Magyar and his centre-right Tisza party ahead of the incumbent, though many have said they are still undecided on who they will vote for. Many polls have shown a double-digit lead for Tisza among those who are decided.
Mr Vance's visit comes just two days since Mr Orban claimed explosives found near a pipeline supplying Russian gas to Hungary and Serbia were "an act of sabotage". Without blaming Ukraine directly, he said Kyiv "has been for years trying to cut off Europe from Russian energy".
Ukraine's foreign ministry strongly rejected the claims, with its spokesperson saying: "Ukraine has nothing to do with this. Most probably, [it was] a Russian false-flag operation as part of Moscow's heavy interference in Hungarian elections."
Who is Viktor Orban?
During his tenure as prime minister, Mr Orban has become celebrated among the global far-right.
His administration has pursued hardline anti-immigration policies, limited LGBTQ+ rights, clamped down on freedom of the press and attacked universities and non profit groups.
Mr Orban has also been one of Russian President Vladimir Putin's biggest allies in Europe. In contrast with most European Union countries, Hungary has refused to provide Ukraine with financial aid or weapons since Moscow invaded in 2022.
The prime minister has frequently used his EU veto power to block support for Kyiv and limit sanctions on Moscow. Last month, he blocked the EU from providing Ukraine with a €90bn loan to help it keep fighting for two more years.
Hungary has also continued to buy Russian oil despite EU attempts to reduce the bloc's reliance on Russian energy.
Why does Trump like Hungary's prime minister so much?
Mr Trump has repeatedly called for Mr Orban to be re-elected as prime minister, with many of his supporters approving his stance on immigration, LGBTQ+ rights and opposition to the media and academia.
Before his vice president's visit, Mr Trump's secretary of state Marco Rubio travelled to Budapest in February, where he celebrated Mr Orban and spoke highly of the "person-to-person connection" he has established with Mr Trump.
"President Trump is deeply committed to your success because your success is our success," he told Mr Orban.
In November, Hungary was granted an exemption from US sanctions on Russian oil and gas after Mr Orban met with Mr Trump at the White House.
When Mr Orban hosted dozens of his European and worldwide allies at a Hungarian conservative conference last month, Mr Trump sent a video message saying Mr Orban had his "complete and total endorsement" and praised the prime minister as a "fantastic guy".
The relationship has gone both ways, with Mr Orban being the first European leader to endorse Mr Trump during his 2016 presidential bid. He has also repeated Mr Trump's false claims he won the election in 2020 - claiming before Mr Trump began his second term that Democrats "took the presidency away from Donald Trump through fraud".
Who is Peter Magyar?
Mr Magyar heads up the centre-right Tisza party and represents the greatest threat to Mr Orban and his Fidesz party's electoral prospects.
He has argued Sunday's vote is a "referendum" on whether Hungary continues its drift towards Moscow or retakes its place among Europe's democracies.
Mr Magyar, a former ally of Mr Orban, has blasted the prime minister and his government for making Hungary the "poorest and most corrupt" country in the EU and said a "peaceful, humane and functioning" country could come about if he was elected.
He has campaigned on issues he believes affect the everyday lives of Hungarians, such as the country's state health care system and public transport sectors, as well as against what he has described as rampant government corruption.
Mr Magyar has also said he would work to restore Hungary's relationship with the EU if he were elected, telling the Associated Press he would pursue a "constructive but critical" relationship with the bloc.
He said Sunday's election will be "a referendum on our country's place in the world".
Police have not named him but it's widely reported to be Ben Roberts-Smith, a 47-year-old former SAS corporal.
He was awarded the Victoria Cross and the Medal of Gallantry for his service in Afghanistan - but now faces five counts of war crime murder.
Roberts-Smith was arrested when he landed at Sydney airport on Tuesday.
Police said he had been denied bail and would appear in court for a bail hearing on Wednesday.
"It will be alleged the victims were detained, unarmed and were under the control of ADF [Australian Defence Force] members when they were killed," said police commissioner Krissy Barrett
Roberts-Smith is the second veteran to be charged after a 2020 report found evidence Australian SAS and commando troops had unlawfully killed 39 prisoners, farmers and other non-combatants.
Oliver Schulz, 44, is the other former Australian SAS veteran who's been charged.
He is alleged to have shot an Afghan man in the head three times in a field in Uruzgan province in May 2012. Schulz has pleaded not guilty.
War crime murder in Australian law is defined as the intentional killing of someone not taking an active part in hostilities, such as civilians, prisoners of war or wounded soldiers. It carries a potential sentence of life in prison.
Roberts-Smith sued several newspapers over articles in 2018 that accused him of various war crimes. He has consistently denied allegations of wrongdoing during his service.
But in 2023, a civil court found he had likely killed non-combatants unlawfully, and in September, Australia's highest court refused to hear his appeal.
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The criminal charges will need to meet a higher bar; proving the allegations beyond reasonable doubt rather than on a balance of probabilities.
Commissioner Barrett said the charges were "not reflective of the majority of members who serve under our Australian flag with honour, with distinction and with the values of a democratic nation".