Haim died Wednesday at the age of 38 after battling substance abuse for years. The cause of his death has not been determined. A funeral is planned in his home town in Canada.
"In the days following my best friend Corey Haim's death, I have spent much time with his mother Judy, who has always been like a mother to me," Feldman said in a statement issued to E! News.
"I would love nothing more than to be by her side at Corey's funeral, however, due to their strong religious beliefs and need for privacy, the family has decided to make Corey's funeral on Tuesday a small private affair," Feldman said. "Understanding the recent media attention and to be respectful of the family's wishes, I have decided not to attend."
Feldman said he is planning a memorial for Haim in Los Angeles early next month.