Opposition to holding the Games in July has risen sharply in the past 48 hours, with several major stakeholders such as US Track and Field and UK Athletics, along with several national Olympic committees, calling for a delay because of the pandemic.
More than 13,000 people have died globally since the coronavirus outbreak began.
"The COC and CPC urgently call on the International Olympic Committee (IOC), and the International Paralympic Committee (IPC) and the World Health Organization (WHO) to postpone the Games for one year and we offer them our full support in helping navigate all the complexities that rescheduling the Games will bring," the committees said in a statement.
"While we recognize the inherent complexities around a postponement, nothing is more important than the health and safety of our athletes and the world community," it added.
The IOC said on Sunday it would hold discussions that would include an option of putting back the 24 July start date or even moving the Games by a year or more due to the global coronavirus outbreak, but said cancelling the Games would not solve problems or help anybody.
Canada's withdrawal will add to growing pressure on the IOC to alter the schedule after criticism from a slew of current and former athletes with health concerns.