Chagaev pulled put of a fight in 2007 after contracting hepatitis B
Nikolay Valuev's defence of his WBA heavyweight crown has been called off after opponent Ruslan Chagaev failed a medical on the eve of the fight.
Their bout was due to take place in the Finnish capital Helsinki on Saturday.
Finnish law dictates details of the failed test cannot be revealed, but a statement said Chagaev was unable to "fulfil the federation's requirements".
A statement from Valuev's promoters said: "Our top priority is Nikolai's health and it could not be guaranteed."
In 2007, Chagaev pulled out of a unification bout against then-WBO champion Sultan Ibragimov. It was widely reported at the time that he had contracted hepatitis B.
Valuev, who had been hoping to avenge his only professional defeat, said: "I would have loved to make this fight but given the circumstances it is not possible."
Unbeaten Uzbekistani Chagaev, 30, won a majority decision over 7ft Valuev in Stuttgart in April 2007.
But after Chagaev was named "champion in recess", Valuev regained his crown when he beat John Ruiz in August 2008.
"That loss still haunts me, now is the time to finally set the record straight," Valuev said prior to the fight being called off.
Chagaev was given the label of "champion in recess" by the WBA after he failed to defend his title on two occasions against Valuev because of injury.
Valuev went on to make an unimpressive defence against four-time former world champion Evander Holyfield last December.
Chagaev, who has a record of 25 wins and one draw in a 26-fight career, returned from his Achilles injury with a technical decision win over Costa Rica's Carl Davis Drumond in February.