Cancelling a subscription typically means stopping future charges without erasing the history of the subscription. You will be charged for when the last billing cycle end, but your data and subscription history will be preserved for about 90 days before it is permanently deleted. (Free of charges)

Deleting a subscription is a more permanent action that removes all records of the subscription, as if it never existed. In the context of Azure, to manually delete a subscription, you must first delete all resources associated with the subscription. After deletion, Microsoft waits 30 to 90 days before permanently deleting your data.

To cancel a subscription, it is recommended to stop all resources turn off autorenewal associated support plan.

The user needs to have the role Global Admin, Owner or Service Administrator.

Reactivate a cancelled subscription:

If you cancel your subscription with pay-as-you-go rates accidentally, you can reactivate it in the Azure portal.

If your subscription isn't a subscription with pay-as-you-go rates, contact support within 90 days of cancellation to reactivate your subscription.