The comments came during a speech given at the presidential palace in the Turkish capital, in which the president called this decision a "one-off gesture."
"For one time only, I will be forgiving and withdrawing all cases against the many disrespects and insults that have been leveled against me," he said.
"I feel that if we do not make use of this opportunity correctly, then it will give the people the right to hold us by the throat. So I feel that all factions of society, politicians first and foremost, will behave accordingly with this new reality, this new sensitive situation before us."
The Turkish president had previously filed criminal charges against hundreds of journalists and public figures for allegedly insulting the presidency. One such instance involved actor and columnist Orhan Aydin, who used derogatory descriptions of Erdogan in opinion pieces for Solhaber newspaper.
The announcement comes two weeks after the failed coup attempt that left nearly 250 people dead and over 1,000 injured. On Friday, Erdogan also reiterated that however Ankara decides to punish mutineers is an internal issue and not the concern of foreign countries.
NATO allies have warned Ankara against enacting the death penalty against coup plotters. Earlier on Friday, Erdogan went so far as to accuse the head of US Central Command of "siding with coup plotters" and told the four-star general to "know your place."
He also insinuated that Washington may have played a role, at least indirectly, in the coup attempt.
"My people know who is behind this scheme…they know who the superior intelligence behind it is, and with these statements you are revealing yourselves, you are giving yourselves away."
Ankara has blamed the attempt on religious and political figure Fethullah Gulen, currently living in exile in Pennsylvania. The US has so far refused Ankara's extradition requests.
