The killing of Palestinian and Israeli civilians only leads to a further deterioration of the situation, as we are all fighting for stability, said Abbas, who was quoted by Wafa news agency.
The president also called on Israeli authorities not to use this event as an excuse to attack the Palestinians.
Permanent, comprehensive and just peace is the shortest and most direct way to provide security and stability to the Palestinian and Israeli peoples, he added.
Two people were killed and a dozen were injured when a man opened fire on central Dizengoff Street, a popular nightspot full of restaurants and bars.
The Palestinian attacker, named Raad Fathi Hazem, from the Jenin refugee camp in the northern West Bank, was gunned down after a nine-hour mega-operation involving some 1,000 soldiers, police officers and intelligence personnel.