The 24-year-old was attacked at Chicago’s in Stourbridge at around 1am on Sunday and died later in hospital.
Dudley Council’s licensing committee decided a suspension of the licence was necessary following submissions from the police and bosses at the club agreed.
The venue’s future is now due to be decided at a full licensing review on August 24. Bosses at Chicago’s said they were devastated by what happened.
Forensic teams were combing the club for clues on Sunday following the killing of the former Stourbridge FC youth player.
Chairman of the licensing committee, Councillor Michael Evans, said: “We felt it was a very serious issue as the stabbing occurred inside the premises and that made it more concerning.
"The suspension will give the police and the nightclub time to talk together.”
Stourbridge councillor Nicolas Barlow said: “I am sure they will use that time to take stock of what has happened to try and look at how they can work towards eliminating these types of incidents.”
The Ryemarket shopping centre, where the club is based, has announced a magic workshop planned for Friday will be cancelled in light of the tragedy.
A spokesperson for Chicago’s said: “We are all devastated and shocked by the tragic death of Ryan Passey last weekend in what appeared to be an unprovoked attacked.
“We did everything possible to try to save him, as did the paramedics who were on the scene in minutes. We will continue to work with the Police and do everything we can to ensure that the offenders are brought to justice.”
Kobe Murray, 19, of The Broadway, Dudley, has been charged with murdering Mr Passey.