The 18-year-old rapper - real name Jahmaal Fyffe - has cancelled all forthcoming appearances after posting a series of disturbing messages on his Twitter page, hinting he wanted to commit suicide.
A statement from his record company read: "Since finishing his A-levels and completing work on his album, Chipmunk has been working incredibly hard on generating a successful music career which has taken its toll on such a young artist.
"Label and management have agreed to cancel all upcoming promotion and personal appearances to give him some much needed time off."
The `Chip Diddy Chip` rapper had sparked huge concern for his welfare after posting on his page on the social networking site.
The messages which have since been removed from the site, said: "I Want to Die" and later he asked: "Is suicide easy?"
The rising star - who beat Kanye West and Eminem to be named Best Hip-Hop act at the Music Of Black Origin Awards (MOBO) in September - has since reassured fans he was overcoming his problems.
In an update on his Twitter page, he wrote: "This has been the most difficult time for me... But I will get through it!"
It is now thought that the rapper is resting with his family at home in north London.