The BUGB Council met this week with the slave trade as the main focus of its agenda.
The three-day meeting concluded with a unanimous decision to formally apologise.
Part of the statement read, "We acknowledge our share in and benefit from our nation's participation in the transatlantic slave trade.
"We offer our apology to God and to our brothers and sisters for all that has created and still perpetuates the hurt which originated from the horror of slavery."
The Council also committed itself to finding ways to turning its feelings on the issue into concrete actions and "contribute to the prophetic work of God's coming Kingdom".
Jonathan Edwards, the General Secretary of the Baptist Union of Great Britain also said, "It was an extraordinary privilege to be a part of this BUGB Council. People listened with great care and spoke with an honesty and grace which enabled us to move forward on this highly charged subject.
"I am absolutely delighted that Council felt able to agree this statement and I believe this takes us a significant way forward."
