Weibo, often referred to as "China's Twitter", issued new guidelines last Friday saying that it would begin deleting all gay-themed cartoons and videos, along with violent and pornographic material.
China's LGBT community and their allies responded immediately to the announcement with hashtag campaigns, with the declaration #我是同性恋# (I am gay) reaching almost 300 million views before it was blocked on Saturday.
The LGBT community in China also pushed back last July when Weibo censored videos of same-sex couples.
By Saturday, Weibo had removed 56,243 pieces of content, closed 108 user accounts and taken down 62 topics.
Chinese authorities have embarked on a campaign in recent years aimed at purging internet content that it deems inappropriate.
Following Weibo's initial announcement Friday, more than a million users have viewed hashtags in support of LGBT rights, with many sharing their own experiences as an LGBT person or a parent of one.
Among them was LGBT rights activist Pu Chunmei, whose impassioned post accompanied with pictures of her with her gay son quickly went viral.
"There can be no homosexuality under socialism?" a Weibo user wrote, according to AFP.
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"My son and I love our country. we are proud to be Chinese!"
As of early Monday morning many such posts were still online, as censors appeared to struggle to keep up with the deluge.
But the Twitter-like platform backtracked on Monday, stating on its administrators' official account: "This clean-up of games and manga is no longer directed at homosexual content, but is primarily to clean up pornographic and bloody, violent content".
The latest move to "clean-up" what is posted online in Weibo comes at a time when Facebook - the world's largest social media company - has been facing flak for leaking user data to private firms.
Netizens cheered the reversal.