"For those reasons, it brings me great sadness that it has come to this. The decision that I have made for my wife and I to step back, is not one I made lightly. It was so many months of talks after so many years of challenges. And I know I haven't always gotten it right, but as far as this goes, there really was no other option."
The Duke of Sussex then went on to suggest that he is unhappy with Buckingham Palace's final decision, as he hoped to continue serving the crown without public funding.
"What I want to make clear is we're not walking away, and we certainly aren't walking away from you," the 35-year-old emphasised. "Our hope was to continue serving the Queen, the commonwealth, and my military associations but without public funding. Unfortunately, that wasn't possible."
"I've accepted this, knowing that it doesn't change who I am or how committed I am. But I hope that helps you understand what it had to come to, that I would step my family back from all I have ever known, to take a step forward into what I hope can be a more peaceful life," he added. "I was born into this life, and it is a great honor to serve my country and the Queen."
"Together, you have given me an education about living. And this role has taught me more about what is right and just than I could have ever imagined. We are taking a leap of faith - thank you for giving me the courage to take this next step."
His touching words come just days after Buckingham Palace released a statement detailing the Duke and Duchess of Sussex's post-royal plans.
As the couple will no longer be working members of the Windsor clan, they will relinquish their HRH titles and will no longer receive public funding by spring 2020.
Harry and Meghan will also refund the money used to refurbish their UK royal residence, Frogmore Cottage, which is thought to have cost British taxpayers around £4.5 million.
In a statement from Her Majesty released on January 18, the Queen said that "Harry, Meghan and Archie will always be much loved members of my family" adding that she recognises the "challenges they have experienced as a result of intense scrutiny over the last two years".
Her Majesty then went on to add that she is "particularly proud of how Meghan has so quickly become one of the family".