The book, by former television journalist Michael Turner, was to have been released on November 24.
The High Court retrial in which Mr Bain was acquitted on June 5 this year of murdering his parents and three siblings was to be the climax of the book.
Neither Turner nor the publisher was prepared to say what led to the cancellation, but the Weekend Herald understands it came after the manuscript was examined for legal risks.
Turner, who followed the case from its early days, said he was not disappointed by the decision.
He said the book was a "work in progress".
"There will still be a book published. I have some work to complete, and when I do that, I will be presenting it for publication again."