They were scheduled to fly to the Balearic island on Tuesday on Monarch Airlines flight ZB504.
But after police were called to Manchester Airport at about 19:10 BST all were removed from the aircraft and no further action was taken.
The airline said they were "offloaded due to disruptive behaviour".
One witness, passenger Amber Ferguson, described the women as "disgusting human beings".
Photographs of the incident posted by her on social media have drawn thousands of critical comments about the four women.
Ms Ferguson, a teaching assistant from Manchester, said the women used racist language and threatened other passengers.
She wrote: "If you know them or are related to them you should be ashamed to know such disgusting human beings!!"
A spokesman for Monarch Airlines said: "The flight, which was being operated by Smartlynx, on behalf of Monarch, had 158 customers on board.
"Monarch takes a zero-tolerance approach to disruptive behaviour on board all of our flights.
"The safety and security of our passengers, crew and aircraft is our absolute priority."
Four women were thrown off their Manchester-to-Ibiza flight after allegedly threatening other passengers and using racist language.