An unprecedented policing operation in London ahead of the state funeral of Queen Elizabeth II means the game at Emirates Stadium has been called off.
The postponement follows talks between Arsenal, UEFA and the Met Police.
UEFA have said a new date for the match would be “communicated in due course”.
A UEFA statement read: “UEFA today announced that the UEFA Europa League tie between Arsenal FC and PSV Eindhoven, originally to be played on Thursday 15 September, has been postponed with a new date to be communicated in due course.
“This is due to the severe limitations on police resources and organisational issues related to the ongoing events surrounding the national mourning for Her Majesty Queen Elizabeth II.”
Arsenal say they are “working with the authorities to reschedule the match”.
An Arsenal statement read: “We apologise for any convenience this may cause and share our thanks for your support and understanding.”
A PSV statement read: “The Arsenal - PSV match is still postponed. UEFA reported this to PSV on Monday afternoon. Last weekend it seemed that the game would be played next Thursday, but the national authorities in Great Britain have decided that insufficient deployment of police personnel is possible due to the funeral services of the British Queen Elizabeth in London.”
Chelsea’s Champions League game against RB is set to go ahead as planned, but the Arsenal match was considered higher risk due to its proximity to the weekend and the chequered history of travelling PSV supporters.
London clubs fear the strain on police resources could lead to further postponements this week and over the weekend.
Among the other at-risk matches this weekend, Tottenham host Leicester on Saturday, while on Sunday Brentford face Arsenal and Chelsea play host to Liverpool.
The EFL has confirmed that its fixture schedule would resume from Tuesday but acknowledged that "challenges...may emerge regarding the policing of specific fixtures", with matches to be considered "on a case-by-case basis".