"I am truly sorry. I know I have hurt and disappointed my family, my close friends, my co-workers, our fans and many others who rightfully hold me to a higher standard," the 77-year-old billionaire said in a statement.
"Throughout my life, I have always tried to do the right thing. The last thing I would ever want to do is disrespect another human being."
Kraft referenced the death of his wife Myra, who died of cancer at age 68 in 2011, which left him devastated.
"I have extraordinary respect for women; my morals and my soul were shaped by the most wonderful woman, the love of my life, who I was blessed to have as my partner for 50 years."
Kraft, who's denied charges of soliciting prostitution, did not admit to any wrongdoing in his statement, which comes on the eve of the NFL owners meetings in Phoenix, where he's expected to attend.