The strap is connected to a motion sensitive remote which is used to control the on-screen action.
The announcement follows reports about the wrist straps breaking during use, leading to the controller slipping out of hands, smashing TVs and windows.
Nintendo said the straps do not present a problem if used correctly, but will still replace all broken ones for free.
In addition all new Wiis will come with an "enhanced" strap which should not be as prone to breakages.
The Japanese firm has also recalled 200,000 AC adapters for its DS and DS Lite consoles in Japan. Nintendo said the recall would not affect overseas adapters , and company executives expected only a small impact on earnings.
The problem with the straps, originally reported as a major recall, affects all Nintendo Wiis sold worldwide and almost all units currently on shelves in shops. Nintendo has targeted sales of four million Wii consoles by the end of 2006.
