The Duke, 97, voluntarily surrendered his licence after "careful consideration", Buckingham Palace announced this weekend.
"The duke is reported to have acknowledged that the collision last month was his fault", said BBC royal correspondent Jonny Dymond.
Philip, who suggested low sun had affected his sight for the crash, also received a warning from police for driving without a seatbelt two days after the crash.
The Duke of Edinburgh has voluntarily handed his driver's license in at the grand age of 97 years old, just weeks after he was involved in a vehicle accident.
He told Emma Fairweather, who suffered a broken wrist in the crash, that "I can only imagine that I failed to see the auto coming, and I am very contrite about the consequences".
It said it would forward the licence to Britain's licencing authority, the DVLA.
Per Town & Country, the Norfolk Police along with issuing the statement about Prince Philip handing in his license, were also quoted as saying that "The investigation file for the collision has been passed to the Crown Prosecution Service for their consideration".
Philip retired from public life in 2017, although he still occasionally appears with his 92-year-old wife at official events.
In the letter, dated January 21, the Duke of Edinburgh said he was "deeply sorry" for the incident, and wished her "speedy recovery from a very distressing experience". The Queen is known to regularly drive herself around her private property, and is the only person in the United Kingdom who isn't required to have a drivers licence.
At the time, women were banned from driving in Saudi Arabia.