The move comes after the Cumbre Vieja volcano erupted on 19 September, causing thousands of locals and tourists to be evacuated from the surrounding areas. No casualties have been reported.
The island’s airport originally closed as the eruption intensified, but has since reopened.
Residents were ordered to remain indoors amid fears toxic gas could be released when the lava reached the Atlantic ocean.
A spokesperson for Tui said all customers impacted by the cancellations will be contacted directly to discuss their options.
"We’d like to reassure customers due to travel to any other Canary Islands that our flights are currently operating as planned however we will continue to monitor the situation and contact them should their holiday be impacted," they added.
"We’d like to thank our customers for their patience and understanding during this time."
