The International Olympic Committee (IOC) last week announced the ban for what it called "unprecedented systematic manipulation" of the anti-doping system.
But it left the door open for Russian athletes with no history of doping to be invited to compete as neutrals.
In comments carried by Russian media last month, KHL President Dmitry Chernyshenko hinted that the league could bar its players from competing at the Olympics in retaliation for doping investigations against Russian athletes.
PyeongChang
Russia's hockey league gives blessing for players to compete as neutrals at Olympics
13/12/2017 AT 13:45
But in a news release on Wednesday, the league said its board of directors supported Russia's decision. It also wished good luck to all KHL players representing their various countries' national teams at the Games.

2018 Pyeongchang Winter Olympics logo is seen during ISU Four Continents Figure Skating Championships - Gangneung -Test Event For PyeongChang 2018 at Gangneung Ice Arena on February 16, 2017 in Gangneung, South Korea.

Image credit: Getty Images

The absence of KHL players in Pyeongchang could have dealt a serious blow to Olympic hockey given that players from North America's National Hockey League (NHL) will not be taking part.
The NHL announced in April that it would not halt its season to accommodate the Olympics, infuriating those wishing to participate and ending a run of five consecutive Winter Games with players from the league.
Russian authorities have denied any state support for doping and pledged to cooperate with international sports bodies to counter the use of banned performance-enhancing drugs in the country.
Russia's athletics federation, Paralympic Committee and anti-doping agency RUSADA remain suspended over doping scandals.
Ice Hockey
League exploring reduced schedule, short-term hubs for 2020-21 season
11/11/2020 AT 09:13
Ice Hockey
NHL ponders temporary realignment, travel hubs
11/11/2020 AT 04:01