Ukrainian Prime Minister Volodymyr Groysman said in a social media posting late on Tuesday he was convinced what he called "the Russian totalitarian machine" had not forgiven Babchenko for what Groysman called his honesty.
Vasily Gritsak, head of the Ukrainian Security Service, said the agency faked Babchenko's death to catch those who are trying to kill him.
Neither he nor Vasyl Gritsak, head of the Ukrainian Security Service, provided details of how they staged Mr Babchenko's injuries or made his wife believe he was dead.
"I am sorry, but there were no options here", Babchenko said at the presser.
Babchenko said he was sorry to friends and family, including his wife, who thought he had died. He says a Ukrainian citizen allegedly paid $40,000 to arrange the hit has been arrested.
"I'm still alive", he said.
Babchenko used his time in the press conference to apologize to his loved ones for putting them through the pain of grieving for his death.
The weird scenes were a shock to everyone - including Babchenko's wife, who received an apology from her husband for faking his own death.
He left Russian Federation for Prague in February 2017 after receiving threats, and moved to Ukraine in August with his family.
Babchenko fled Russian Federation in 2017, writing on social media he no longer felt safe living there.
"I would like to apologise for what you have all had to go through", Babchenko said.
He said that he became convinced that Russian government agencies were involved when he saw information on him which could only be accessed by Russian special services. He is a critic of Russian President Vladimir Putin and his policy in Ukraine and Syria. He traveled to the conflict in Ukraine and criticized the 2014 downing of Malaysia Airlines passenger flight MH17, which killed 298 people.