The Gunners, along with the Premier League’s ‘Big Six’, signed up for the new midweek competition alongside AC Milan, Atletico Madrid, Barcelona, Juventus, Inter Milan and Real Madrid.
Fans voiced their dismay on social media, but also by hanging banners outside grounds and Chelsea supporters protested before Tuesday’s game with Brighton.
Arsenal supporters were dismayed too and voiced their concerns to the club’s board.
The Gunners say they have listened and on Tuesday night they apologised to supporters for events of the past 72 hours.
Arsenal said in a statement: “The last few days have shown us yet again the depth of feeling our supporters around the world have for this great club and the game we love.
“We needed no reminding of this but the response from supporters in recent days has given us time for further reflection and deep thought.
“It was never our intention to cause such distress, however when the invitation to join the Super League came, while knowing there were no guarantees, we did not want to be left behind to ensure we protected Arsenal and its future.
“As a result of listening to you and the wider football community over recent days we are withdrawing from the proposed Super League. We made a mistake, and we apologise for it.
“We know it will take time to restore your faith in what we are trying to achieve here at Arsenal but let us be clear that the decision to be part of the Super League was driven by our desire to protect Arsenal, the club you love, and to support the game you love through greater solidarity and financial stability.
Chelsea pulling out of European Super League after fan protests
“Stability is essential for the game to prosper and we will continue to strive to bring the security the game needs to move forward.
“The system needs to be fixed. We must work together to find solutions which protect the future of the game and harness the extraordinary power football has to get us on the edge of our seats.
“Finally, we know this has been hugely unsettling at the end of what has been an incredibly difficult year for us all.
“Our aim is always to make the right decisions for this great football club, to protect it for the future and to take us forward. We didn’t make the right decision here, which we fully accept.