In his statement, he says he had promised himself he would never publicly come out as gay, but hopes that opening up about his sexuality will help make things easier for queer people everywhere.
In a subsequent tweet, Lil Nas X addressed the haters, telling them to "stay mad", after his decision to stop hating himself.
"I spent my entire teenage years hating myself because of the shit y'all preached would happen to me because i was gay. so i hope u are mad, stay mad, feel the same anger you teach us to have towards ourselves," he wrote.
The song has become an instant hit, with 10 million views on YouTube in just a few hours and more than one million Spotify streams.
The song has angered conservative and religious groups, who point to the rapper as proof of the downfall of society.
Not content with angering the trolls once, Lil Nas X has been masterfully trolling them repeatedly by replying to hateful comments on social media and throwing the hate right back on their faces.
The rapper has responded to people accusing him of being a bad role model for children, by pointing out it is not his job to raise them and he does not make music for children.
Lil Nas X says the criticism aimed at his music is misplaced as there are more important things to worry about.
"There is a mass shooting every week that our government does nothing to stop. Me sliding down a cgi pole isn't what's destroying society," he wrote on Twitter, in a response to a tweet blaming him, which has since been deleted.
In another tweet, he again points out that there are far more serious things to blame the downfall of society on.
"Y'all saying a gay n***a twerking on a cgi satan is the end of times like slavery and the holocaust didn't happen," he wrote.
The rapper has been applauded for taking a stand against the haters.
The Old Town Road artist came out in a tweet at the end of Pride Week in 2019, leading to waves of both support and hate on social media.
You can watch the full video for "Montero (Call Me By Your Name)" below: