Johnson was set to make his fourth Cup start of the year, driving the No. 84 Legacy Motor Club Chevrolet in the inaugural event.
He ran the season-opening Daytona 500, COTA, and the Coke 600. Johnson was also a part of the Garage 56 NASCAR entry at the 24 Hours of Le Mans earlier this month.
The decision to bow out of the Chicago race comes following news of a terrible tragedy involving the family of Jimmie's wife of nearly 20 years, Chandra. Her parents Jack and Terry Janway, as well Chandra's 11-year-old nephew Dalton have all been killed in what police have said is a possible murder-suicide.
The shooting took place on Monday evening in Muskogee, Oklahoma.
As a result, Johnson has understandably withdrawn from this weekend's race with the team he co-owns releasing the following statement:
"Legacy Motor Club has elected to withdraw the No. 84 Carvana Chevrolet from this weekend’s NASCAR Cup Series event in Chicago.
"The Johnson family has asked for privacy at this time and no further statements will be made."
Reacting to the news, NASCAR released a statement that added: "We are saddened by the tragic deaths of members of Chandra Johnson’s family.
"The entire NASCAR family extends its deepest support and condolences during this difficult time to Chandra, Jimmie and the entire Johnson and Janway families."