The Parades Commission has ruled against the Belfast Walker Club's application to march on 7 November along Ormeau Road.
Submissions were received from residents of the lower Ormeau Road area, the Police Service of Northern Ireland and political groups before the decision was made.
The commission determined that authorising the procession would create significant disruption for the local community and risk harm to community relations.
Movement down the road is forbidden at the point where the bridge meets the Annadale Embankment.
This specific section has been off-limits to parades since 1999.
A separate demonstration involving roughly 1,500 people was also notified for the same date at the bridge location.
The proposed route would have started at Ballynafeigh Orange Hall and continued towards Donegall Pass after crossing the structure.
No further details on future review dates or alternative routes were provided in the official notice.