Phil will take a break from the game to work on becoming the man he wants to be.
However the 51-year-old says his comments were reckless and he is deeply sorry for his choice of words.
He said he was beyond disappointed.
The writer of a soon-to-be-published biography of the US PGA champion made public comments made in November to the writer.
The proposed league, which is to be a lucrative Formula One-style tour funded by Saudi Arabia's Public Investment Fund, was distanced from by big-name American players after their publication.
The players were expected to lead the group.
It is thought that the project was a once in a lifetime opportunity to change how the PGA Tour operates, and that the comments made by Mickelson prompted DeChambeau and Johnson to side with him.
Although it doesn't look this way now, my actions throughout this process have always been with the best interest of golf, my peers, sponsors, and fans.
There is a problem with off-record comments being shared out of context and without my consent, but the bigger issue is that I used words that do not reflect my true feelings or intentions.
I am deeply sorry for my choice of words, it was reckless and I offended people. I am beyond disappointed and will make every effort to learn from this.
One of the greatest players in the history of the game says he is suffering from a long career in the spotlight.
He said in his statement that he has made a lot of mistakes in his life and many have been shared with the public.
I have felt the pressure and stress slowly affect me at a deeper level over the past 10 years.
I have not been my best and need some time away to work on being the man I want to be.
Lefty said he has worked with Greg Norman's LIV Golf Investments, who are behind plans for the super league, and that he believes professional golf needs to be changed.
He said that golf desperately needs change. I knew that criticism would come with exploring anything new.
I still chose to put myself at the forefront of this to inspire change, taking the hits publicly to do the work behind the scenes.
My experience with LIV Golf Investments has been positive. I apologize for anything I said that was taken out of context.
The people I have worked with are visionaries and have supported me.
The option to pause or end the relationship has been given to his long-term sponsors.
The veteran, who became the oldest man to win a major when he claimed the US PGA at Kiawah Island last May, received a lot of criticism for his comments.
They were branded asnaive, selfish, egotistical and ignorant.
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