Alex Rodriguez will play his final major league game next Friday with the New York Yankees and then become a special adviser and instructor with the team.
Rodriguez and the club made the announcement before Sunday's home game against Cleveland.
"This is a tough day. I love this game and I love this team," he said, often choking up. "And today I'm saying goodbye."
A-Rod will play against Tampa Bay at Yankee Stadium on Friday night before ending one of the most prolific and polarizing careers in baseball history.
The 41-year-old designated hitter, a three-time AL MVP and 14-time All-Star, is hitting .204 this season with nine home runs and 29 RBIs in 216 at-bats. His worsening slump finally relegated him to the bench for most of the past month, with Rodriguez getting only one start and seven at-bats in 14 games since July 22.
With Brett Gardner, Brian McCann and his teammates in attendance at a packed news conference, Rodriguez said he was thankful he'd get a few more at-bats in front of family and friends.
"We all want to keep playing forever," Rodriguez said. "But it doesn't work that way."