diff --git a/packages/api/src/hooks/p2p/useOrderCancel.ts b/packages/api/src/hooks/p2p/useOrderCancel.ts
new file mode 100644
index 000000000000..25d657baf4f3
--- /dev/null
+++ b/packages/api/src/hooks/p2p/useOrderCancel.ts
@@ -0,0 +1,41 @@
+import { useCallback } from 'react';
+import useMutation from '../../useMutation';
+import useInvalidateQuery from '../../useInvalidateQuery';
+
+type TOrderCancelPayload = NonNullable<
+    Parameters<ReturnType<typeof useMutation<'p2p_order_cancel'>>['mutate']>
+>[0]['payload'];
+
+/** A custom hook that cancels a P2P order.
+ *
+ * To cancel an order, specify the following payload arguments in the `mutate` call:
+ * @example
+ *  mutate({
+ *      id: "1234",
+    });
+ *
+*/
+const useOrderCancel = () => {
+    const invalidate = useInvalidateQuery();
+    const {
+        data,
+        mutate: _mutate,
+        ...rest
+    } = useMutation('p2p_order_cancel', {
+        onSuccess: () => {
+            invalidate('p2p_order_info');
+        },
+    });
+
+    const mutate = useCallback((payload: TOrderCancelPayload) => _mutate({ payload }), [_mutate]);
+
+    return {
+        /** An object that contains the id and status of the order */
+        data: data?.p2p_order_cancel,
+        /** A function that cancels a specific order */
+        mutate,
+        ...rest,
+    };
+};
+
+export default useOrderCancel;