The team said in a statement that they felt strongly that fielding a single car was "the appropriate course of action under the difficult circumstances of the weekend."
Bianchi remains in a critical but stable condition following his crash at Suzuka last weekend, and though Marussia registered reserve driver Alexander Rossi on the official Sochi entry list in the Frenchman's place, they eventually decided not to run the American rookie.
"I don't know how to put into words how truly devastated I am by what has happened to Jules," Chilton said. "The support from the F1 family has been incredible and all we can do is be there to support Jules' family at this difficult time.
"It is going to be a very emotional weekend for the whole team, but we will try to get through it and keep praying for Jules."
Marussia's cars and team personnel will sport a #JB17 graphic throughout the weekend in Russia in tribute to Bianchi. A statement said the gesture ensures that "although Jules is not with them in Sochi this weekend, he is, nonetheless, racing on with the Marussia F1 Team."
Twenty one cars will therefore contest this weekend's inaugural world championship race in Russia.