The Rail, Maritime and Transport Workers' union has suspended all industrial action on Network Rail following a new pay offer.
Strike action was due to take place from 2am on 16 March until 01.59am on 17 March. A ban on overtime - which can be disruptive for maintenance works - had been due to follow.
Sky News understands there is to be a referendum of members on the latest Network Rail offer. Whether the executive committee will recommend members accept or reject the offer, as was done previously, is not yet known.
The RMT national executive committee said further updates would be given in the coming days.
RMT union members employed by Network Rail work in maintenance and signalling.
There is, at the moment, no change in the planned strike action to be taken by RMT members against the 14 train operators represented by the Rail Delivery Group on 16, 18, 30 March and 1 April. Sky News expects an update will be made tomorrow on this dispute.