Deals have been negotiated with undisclosed buyers, Princess has confirmed.
The sales come as part of parent Carnival Corp’s efforts to speed up disposal of less efficient ships.
Sun Princess, Princess’s first Sun-class ship, debuted in the Caribbean in 2005, and went on to sail Alaska and the Panama Canal.
It homeported in Australia in October 2007 before being used to launch Princess to the Japanese market in 2013.
Sea Princess, meanwhile, has long been associated with Princess’s world cruise programme, completing six full world cruises since 2013 and travelling the equivalent of 35 times around the world.
Prior to being deployed in Australia alongside Sun Princess, Sea Princess sailing in Europe, Alaska and the Caribbean, homeporting in Barbados in the mid-to-late-2000s.
“Sun Princess and Sea Princess contributed to significant growth in Australian cruising,” said Princess Cruises president Jan Swartz.
“Both ships defined the premium cruise experience with Australians and New Zealanders spending close to 14 million nights aboard these ships.
"While it is never easy to say goodbye to any ship in our fleet, this will allow us to deploy newer ships enhancing our offerings for Australia cruisers and focus on bringing into service exciting newbuilds like the upcoming delivery of Enchanted Princess.”
Sun Princess’s sailings from 28 December to 14 August 2021 have been cancelled, as have Sea Princess’s sailings from 23 December to 9 November 2021.
Affected guests and travel agents will be notified of their options, including rebooking and accessing refunds.