Having been beaten just a short head by Brametot on his previous start in the Prix du Jockey Club, Andre Fabre's colt was a leading contender for the Curragh Classic.
The Galileo colt was beaten just two lengths into fourth place behind Capri, Cracksman and Wings Of Eagles, but has not been seen in competitive action since.
Waldgeist remains in ante-post lists for the Prix de l'Arc de Triomphe as a general 20-1 shot, but could run just once more this season and that is likely to be in lesser company.
Fabre said: "He is fine. I just wanted to give him some time after the Irish Derby.
"I think he will be a good horse next year, but I want to try and find him a slightly easier race for his next run.
"He'll run again this autumn, but in a Group Two or something like that."
The son of Dream Ahead was third in the 2000 Guineas at Newmarket in the spring and struck at Group One level for the first time in the Prix Jacques le Marois at Deauville.
He also holds an entry in the Qipco Champion Stakes on Champions Day (October 21), but is set to stick to a mile in the QEII.
"He is good and that (QEII) is where he goes. That will be his next run," Fabre added.