The 37-year-old veteran fast bowler said his statement that cricket is sometimes forgotten amid all the money talk in the IPL was taken out of context in social media.
"IPL has been nothing short of amazing in my career, as well as other players too. My words were never intended to be degrading, insulting, or comparing of any leagues. Social media and words out of context can often do that," Steyn tweeted.
"My apologies if this has upset anyone."
Steyn's apology came after he claimed on the sidelines of the Pakistan Super League 6, where he is representing Quetta Gladiators, that money is given more importance than the game in the IPL.
Steyn had said that this was one of the reasons why he had not featured regularly in the event.
"I think when you go to the IPL, there are such big squads and so many big names and so much emphasis on maybe the amount of money players earn and everything like that, so sometimes, somewhere down the line, cricket gets forgotten," Steyn, who was part of the Royal Challengers Bangalore squad in the last IPL held in the UAE, had stated.
In January this year, Steyn announced that he is opting out of the IPL 2021 but will play other leagues around the world.
Steyn's decision led to RCB releasing him ahead of the auction.
Steyn played 95 IPL matches, picking up 97 wickets with a best of 3 for 8. But the South African's repeated injury breakdowns didn't help his cause and he featured in just 12 IPL matches in the last three seasons.
'Money is given more importance than cricket in IPL'
Rahane rubbishes Steyn's PSL vs IPL remark
Michael Vaughan takes a dig at the pitch again
Jasprit Bumrah set to get married!
The eerie silence of Sachin, Sourav, Rahul