The campaign has been the subject of complaints to the Advertising Standards Authority in the UK after concerns that it glamorises guns and violence, which are associated with the UK rap scene.
In the spot, part of Reebok's "I am what I am" campaign, 50 Cent is shown counting out the wounds he received in a shooting in 2000.
Similar shootings have claimed the lives of a number of rappers including most famously Tupac Shakur and Biggie Smalls.
The Reebok ads were created by the New York agency mcgarrybowen. Other celebrities to feature in the campaign are Dame Kelly Holmes, Jay-Z and Allen Iverson, the basketballer.
On its launch here last month, Bill Brown, chairman of the Disarm Trust charity, described it as "irresponsible and despicable".
Originally, Reebok was standing by its decision to screen the ad during adult-orientated programming, but it has since emerged that the ad was pulled last week.
The New York Post reported this week that the spot had been shown in the US with little complaint. However, since it has emerged that Reebok has pulled the ad in the UK, US anti-gun lobbyists are pushing for the same to happen in the US.
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