In a tweet, the north London club apologised to supporters for its role in the now-doomed breakaway.
“As a result of listening to you and the wider football community over recent days we are withdrawing from the proposed Super League,” it read.
“We made a mistake, and we apologise for it.”
It was announced on Sunday night that a new midweek Super League would be launching, compromising of 12 members.
They included the Premier League’s ‘Big Six’ - Arsenal, Chelsea, Liverpool, Manchester City, Manchester United and Tottenham - as well as AC Milan, Atletico Madrid, Barcelona, Juventus, Inter Milan and Real Madrid.
The Super League had received a furious backlash, though, with UEFA threatening banning players from European Championships and World Cups. They had also not ruled out the prospect of throwing sides out of this year’s Europa League and Champions League.
Fans had expressed their dismay too, with Chelsea supporters protesting ahead of their match with Brighton on Tuesday night.
The Blues, along with Arsenal and Manchester City, have now stepped away from the Super League.