The remainder of the Margaret River Pro surfing competition has been cancelled in the wake of two shark attacks in the South West region this week.

The decision to cancel the rest of the event was announced on Wednesday in a lengthy and detailed statement issued by the World Surfer League (WSL).

The WSL said the "elevated risk during this season's Margaret River Pro had crossed the threshold for what is acceptable".

Jack Freestone in action at the Margaret River Pro.

In the statement WSL chief Sophie Goldschmidt said the "difficult decision" to cancel the remainder of the Margaret River Pro had been made due to exceptional circumstances surrounding sharks and the safety of surfers.