The sell-out NatWest T20 Blast Roses clash was abandoned without a ball being bowled at Headingley.
Persistent rain from mid-afternoon gave umpires Mark Benson and Graham Lloyd no option but to call the game off at 7.25pm, leaving the 16,200 spectators who had bought tickets bitterly disappointed.
Yorkshire, who have now played at least two fewer games than any other side in their group, were looking for their fourth consecutive win - a sequence which included a dramatic penultimate ball victory at Emirates Old Trafford.
Meanwhile, Lancashire were denied the chance of a win which could have taken them to the top of the table. Instead, each side had to be content with a point.
Yorkshire's director of cricket Martyn Moxon said: "There is no winner to come out of this and it is all desperately disappointing. With a full house it was the one night that you wanted it to be dry.
"From a cricket point of view it has resulted in the status quo but everyone here was looking forward to the match after winning at Old Trafford and the atmosphere would have been great. It was a game which you just wanted to be involved in.
"It would also have been a big money-spinner and, although we don't give money back, we are bound to lose out financially."
Yorkshire have implemented a seat exchange policy for the game in accordance with the policy displayed on the back of the match tickets. Spectators who have bought a ticket can watch a day's play from any home match this season or apply to watch the corresponding T20 game between the sides at Headingley next year.
Lancashire's assistant coach Gary Yates said: "A point is not a bad thing for us. I think it is more beneficial for us than Yorkshire.
"We have two fixtures away from home, which is good, and our home form has been outstanding. Any point or positive results you get away from home then you see that as a real advantage in getting a quarter-final spot and, more importantly, a home draw."