The company says the parade will be "re-imagined" similarly to the way the Macy's Fourth of July Fireworks were over the summer.
The Thanksgiving Day Parade is one of the biggest traditions nationwide.
Mayor Bill de Blasio said despite the changes, the traditions will still be there.
RELATED | A look back at the iconic Macy's Thanksgiving Day Parade in 1980
"Some is going to be virtual, there might be some small in-person pieces, spread out pieces, it's not going to look at all of course like how we are used to - but the important thing is the traditions will be kept in some way," de Blasio said.
Macy's says to stay tuned for more details later in the fall.
RELATED | Nutcracker balloon knocks marcher to the ground during 2019 Macy's Thanksgiving Day Parade
Nutcracker balloon knocks marcher to the ground during Macy's Parade
Hundreds of nursing homes still aren't allowing visitation amid coronavirus pandemic
Hundreds of nursing homes still aren't allowing visitation
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