"I completely understand that ITV had no choice but to terminate my contract today," the 25-year-old actor said on Tuesday. "I have had two wonderful years playing Tommy Duckworth with only happy memories of my time on Coronation Street.
"I am mortified that I have brought so much embarrassment to my colleagues and employers these last few days. My biggest regret, however, is not to do with losing my job, but that I have hurt and let down so many people, including those in a vulnerable situation, and I am so very deeply ashamed of this."
He continued, "I am also mortified to have put my mother, grandad and girlfriend through the last few days, which they are hurt and bewildered by and so do not deserve. I am so sorry.
"The lyrics that appeared online were influenced by a style of hiphop I was experimenting with at a private freestyle session and blurted out in a moment of madness.
"There is absolutely no excuse — I take complete responsibility for my actions — but they were in no way thought out, or represent at all my attitude towards women, rape and violence.
"I just want to apologise from the bottom of my heart to everyone who I have offended or upset."
Last week, Chris was suspended from the show after being exposed as a masked rapper who posted "totally unacceptable" performances online. After meeting with show bosses on Tuesday, it was announced that his contract had been terminated.