"After much soul-searching, it is clearly time for us to live by Michael's words about love not war," wrote Jermaine, in a statement.
Jermaine also withdrew his support for a leaked letter which calls on executors of the estate to resign.
Last week saw his mother, Katherine, lose guardianship of Michael's children amid reports she was missing.
Michael's siblings, Jermaine, Randy and Janet, are understood to have driven to the Jackson home and insisted they leave with Michael's three children.
Police were called following a "minor scuffle".
"Mistakes have been made and irrational things have been said on both sides in a highly charged emotional environment," Jermaine Jackson wrote in his statement.
"It is time for us all to draw a line in the sand and move towards peace, co-operation, love and healing."
Katherine Jackson was on a 10-day spa trip to Arizona, when speculation arose about her whereabouts and her health.
Prince Michael, 15, Paris, 14, and 10-year-old Prince Michael II (also called Blanket) have lived with the singer's mother since his death in 2009.
Lawyers for the estate this week confirmed a number of unnamed relatives have been barred from visiting the Jackson family home.