The celebrity chef, who is currently appearing on the latest series of Hell's Kitchen USA, launched the Gordon Ramsay Scholarship in 2001 but his spokeswoman said it was "being rested this year" due to a lack of sponsorship.
Previous Gordon Ramsay scholars have gone on to establish themselves in successful head chef roles, including Tristan Welch at Launceston Place and Marcus Eaves at the Michelin-starred L'Autre Pied, according to Hotel & Caterer magazine.
Previous winners have not only had the opportunity to cook in Ramsay's kitchens in London and New York, they have also received £5,000 in cash and a new car. It is understood that both Ramsay as well as outside sponsors, including Gordon's Gin, funded these benefits.
Gordon's Gin has pulled its sponsorship for this year and Ramsay was unable to persuade another company to back the scheme.
In June this year, Ramsay told how he had to sell his Ferrari to help put his restaurant company back on track, while his company accounts indicated profits at his restaurant company, Gordon Ramsay Holdings, had fallen by 87 per cent and his debt grew fourfold.
Ramsay said that the company expanded too quickly and blamed its problems on his own ambitions. The chef – one of only three in the country to hold three Michelin stars – and his father-in-law Chris Hutcheson, with whom he runs Gordon Ramsay Holdings, pumped £5 million of their own money into the company and used the cash to pay off debt and most of around £7 million in outstanding taxes.