His running mate, Alhaji Dr Mahamudu Bawumia, will also suspend his campaign for the same period.
This comes on the heels of the suspension of the campaign of John Dramani Mahama, who was in the Ashanti Region, on a six-day tour.
All these disruptions are as a result of the sudden demise of Mr Rawlings on Thursday, November 12.
It happened at 10:00am at the Korle Bu Teaching Hospital, where he was receiving treatment for a short illness.
It is unclear what the cause of the illness is but reports say he has been on admission for the past couple of days.
President Akufo-Addo announced on Thursday that all national flags must fly at half-mast following his declaration of a seven-day national mourning for the man who was President of the current Republic from 1993 to 2001.
“I have directed that all national flags should fly at half-mast for the next seven (7) days in all parts of the country, and have declared seven days of national mourning from Friday, 13th November to Friday, 20th November.
“In honour of the memory of the former President Rawlings, the Vice President and I have suspended our political campaigns for the same period.”
He said a befitting state burial will be held for the longest serving head of state.
By Emmanuel Kwame Amoh|3news.com|Ghana