The advert for its invisible deodorant range said "white is purity" across an image of a woman.
It was posted on the firm's Facebook page, geographically aimed at its followers in the Middle East. Nivea accepted the post was "misleading".
Many on social media complained the post was racist, but it was also widely-shared among alt-right users.
The advert on the Nivea Facebook page (since deleted) was posted alongside the caption: "Keep it clean, keep it bright. Don't let anything ruin it."
The post was directed at its audience in the Middle East, although the company has 19 million fans globally on its page.
Many on social media complained about the post's racist connotations.
But it was also picked up by alt-right social media accounts who trolled the Nivea account with comments, including of Hitler and Pepe the frog, who was branded a hate symbol last year.
One alt-right account said: "#Nivea: the official moisturizer/anti-perspirant of the #AltRight."
A spokesperson for Nivea's owners Beiersdorf said: "There have been concerns risen about ethnic discrimination due to a post about NIVEA Deodorant Invisible for Black & White on our NIVEA Middle East Facebook page.
"We are deeply sorry to anyone who may take offense to this specific post. After realizing that the post is misleading, it was immediately withdrawn.
"Diversity and equal opportunity are crucial values of NIVEA: The brand represents diversity, tolerance, and equal opportunity.
"We value difference. Direct or indirect discrimination must be ruled out in all decisions by, and in all areas of our activities."

The teenager was also charged in connection with a dishonesty offence that allegedly occurred at the same time on 31 March.
He was further charged in connection with a separate hare coursing incident in the Pathhead area on 23 March.
The boy is the second to be charged with the Dalkeith incident which took place on farmland.
A report has been submitted to the Children's Reporter.
Sgt Michele Lindsay, of Police Scotland, said: "We recognise the impact that hare coursing has on rural communities and remain committed to investigating all reports of this.
"We are working with farmers to tackle this issue and patrols are being carried out as part of the rural crime initiative.
"Anyone with information about hare coursing or rural crime is urged to speak to a local officer.
German skincare brand Nivea has apologised and removed an advert that was deemed discriminatory.
[NEXT_CONCEPT]
A 15-year-old boy has been charged in connection with a hare coursing incident in Midlothian.