The 'King Richard' star, who took out the Best Actor award for his role in the movie, made a public statement apologising to Chris Rock, saying his behaviour was "unacceptable and inexcusable".
Here's the full statement:
"Violence in all of its forms is poisonous and destructive. My behaviour at last night’s Academy Awards was unacceptable and inexcusable. Jokes at my expense are a part of the job, but a joke about Jada’s medical condition was too much for me to bear and I reacted emotionally.
"I would also like to apologize to the Academy, the producers of the show, all the attendees and everyone watching around the world. I would like to apologize to the Williams Family and my King Richard Family.
"I deeply regret that my behaviour has stained what has been an otherwise gorgeous journey for all of us.
"I am a work in progress.
No word yet on whether Chris Rock - or The Academy for that matter - will accept Will's apology.
The alteraction followed a joke made by Chris Rock at the Oscars awards about Will's wife Jada Pinkett Smith.