Facebook would use the time to listen to "parents, experts, policymakers and regulators", Instagram head Adam Mosseri wrote.
It follows leaked internal research the Wall Street Journal (WSJ) said showed Instagram was "toxic for teen girls".
But in a recent blog, Facebook head of research Pratiti Raychoudhury called this allegation "simply not accurate".
Instagram requires users to be at least 13 before they create an account - but many children under that age use the platform anyway.
And the company previously told BBC News Instagram Kids would be a "practical solution to the ongoing industry problem of kids lying about their age to access apps" and enable children to connect with family and friends in an "age appropriate way".
But in April, a letter from the Campaign for a Commercial-free Childhood, signed by 99 groups and individuals, claimed the "image-obsessed" platform was dangerous for children's health and privacy and called for the project to be scrapped.