The airline said it would consider resuming operations once the situation in Venezuela had stabilized.
It operated three return flights between Toronto and Caracas per week.
Twenty-nine people - from both sides of the political divide - have been killed in six weeks of protests against high inflation, crime and the shortage of many staples in Venezuela.
"Due to ongoing civil unrest in Venezuela, Air Canada can no longer ensure the safety of its operation and has suspended flights to Caracas until further notice," says the Canadian airline in a statement.
(BBC)