De Blasio said he feels he has contributed all he can "to this primary election".
He said he plans to end his campaign, continue his work as mayor and "keep speaking up for working people".
Confined to the end podium of the 10-person-per-night debate stage in June, de Blasio annoyed MSNBC host Nicolle Wallace enough with his interruptions that she compared him to a loudmouth at a bar. "But our fight on behalf of working people is far from over".
De Blasio launched his bid in May, but his campaign largely failed to take off.
De Blasio also felt a perpetual pull between his day job as mayor and trying to run for president, and polls had shown the vast majority of New Yorkers didn't want him to seek the White House.
Mayor Pete Buttigieg of South Bend, Indiana, which has a population just over 100,000, has won more support in national polls and regularly raised money in NY.
Good government experts blasted de Blasio from leaning on the accounts, saying the move amounted to an accounting maneuver that allowed his struggling campaign to circumvent donor limits. A Siena College poll from earlier this week put de Blasio below 1%, meaning even people in his home state of NY didn't want him to be president.
A truly stunning development, as in: most readers might be stunned to know Bill de Blasio was still running for president at all.
Peter Ragone, a former top aide to Mr.de Blasio who is now an informal adviser to the mayor, said that the presidential campaign had not been in vain.
The protests did not end after the August 19 firing of Officer Daniel Pantaleo, who placed Garner in the chokehold that contributed to his death.
"When we put working families first in New York City, the city got stronger".
But liberals' enthusiasm for de Blasio faded during his first term as mayor, partly because of political missteps at home and the emergence of bigger names elsewhere. "As mayor of the largest city in America, I've done just that". "NYC is devastated", Trump wrote of de Blasio's announcement on Friday.