The club issued a plea to supporters earlier on Wednesday after the fans encouraged supporters to "courageously fly the flag for Palestine" amid the escalation of the Israeli airstrikes on Gaza that has claimed thousands of lives.
"We have witnessed death, violence and destruction in the Holy Land in recent weeks, with thousands of people – men, women and children – killed, injured and displaced," read Celtic's statement.
"We are witnessing a tragedy of horrendous scale. As it continues, everyone at Celtic prays for all who have been affected.
"We also hope and pray for peace and for humanitarian support to reach those who are in need and in fear.
"Many of our colleagues, supporters, friends and families have been affected by these events.
Celtic added that players and coaches would wear black armbands as a "show of respect and support for all those affected by the conflict" and the club would make a contribution to the International Committee of the Red Cross to "support people affected by the humanitarian crisis in the region".
"We respect the right of all fans who wish not to participate in such an action, however equally we ask that the same respect and freedom is afforded to all fans who do."
In 2016, the Celtic fans raised more than £130,000 ($159,000) in an online fundraising campaign after Celtic were fined nearly £9,000 by UEFA due to fans flying Palestine flags during their 5-2 Champions League victory against Israel's Hapoel Be'er Sheva in Glasgow.
The money went to medical aid for Palestinians and projects in the Aida refugee camp in Bethlehem, where a football academy was set up bearing the name of Celtic.
