The Yngling class, in which Britain have won gold at the last two Olympics, will not feature in the 2012 Games.
The International Sailing Federation has instead chosen the Elliott 6m for women's keelboat match racing in 2012.
Sarah Ayton, Sarah Webb and Pippa Wilson won Olympic Yngling gold for Great Britain at Qingdao in August.
Webb said: "We're very disappointed. The Elliott 6ms are heavy, overpowered and an incredible handful. I don't think we're big enough to race them."
The men's Tornado catamaran class has also been dropped, taking the number of Olympic sailing disciplines from 11 to 10 for 2012.
The Royal Yachting Association, has said it will assess its programme for 2012 in light of the Yngling being scrapped.
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"We look forward to our women adapting to the challenges of match racing in the Elliott 6m."
In a statement the RYA added: "We welcome the decision to select the equipment as the Elliott 6m at this juncture, to allow nations to begin developing their national programmes, and ISAF World Cup event organisers to establish fleets of supplied equipment.
"The RYA is now calling for prompt clarification from ISAF as to the 2012 Olympic qualification process for the women's keelboat match racing event, so that the sailors and their support teams can begin to put their 2012 campaigns together."
In 2004, Ayton and Webb teamed up with Shirley Robertson to win the Yngling Olympic title in Athens.
The 2012 London Olympic sailing events will take place at Portland and Weymouth.
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