Roger Federer, 20-time grand slam champion, will retire from tennis after the Laver Cup later this month.
The 41-year-old released a statement on his social media pages with the news.
"Tennis has treated me more generously than I ever would have dreamt, and now I must recognise when it is time to end my competitive career," he wrote.
"I will play more tennis in the future, of course, but just not in grand slams or on the tour."
Federer is widely acknowledged as one of the greatest players to play the game.
A world number one for a record 237 consecutive weeks, Federer's cultured excellence won him millions of fans all over the world.
One of a trio of stars, along with Rafael Nadal and Novak Djokovic, Federer helped dominate men's tennis for well over a decade.
His rivalry with Nadal blossomed into a close friendship, and the Spaniard paid tribute to him on social media.
"I wish this day would have never come … it's a sad day for me personally and for sports people around the world. I said it to you when we spoke and now it's here," he wrote on Instagram.
"It's been a pleasure but also an honour and privilege to share all these years with you, living so many amazing moments on and off the court.
"We will have many more moments to share together in the future, there are still lots of things to do together, we know that.
"For now, I truly wish you all the happiness with your wife, Mirka, your kids, your family and enjoy what's ahead of you. I'll see you in London at the Laver Cup."
Between 2003, when Federer won his first Wimbledon title aged just 21, Federer would play in 21 out of the next 28 grand slam finals.
He was the first man to win 20 grand slam singles titles, including an unprecedented eight championships on the grass of SW19 — and a stunning five in a row between 2003 and 2007.
Federer matched that feat at Flushing Meadows with five US Open wins between 2004 and 2008, by which time he had also claimed four Australian Open crowns.
After completing a career Grand Slam by finally winning the French Open in 2009, having been beaten in three consecutive finals by Nadal, Federer continued to dominate with another Wimbledon title and the 2010 Australian Open.
Federer won four grand slams from 2011 onwards, making nine finals as his younger rivals gradually surpassed him — Nadal now has 22 grand slam singles titles and Djokovic 21.
There was a late career resurgence after knee surgery though, winning the Australian Open twice in 2017 and 2018, and Wimbledon for the final time in 2017.
Injuries continued to take their toll, with Federer missing eight of the last ten grand slam tournaments played.
"The past three years have presented me with challenges in the form of injuries and surgeries," Federer wrote in his goodbye message.
"I've worked hard to return to full competitive form.
"But I also know my body's capacities and limits, and it's message to me lately has been clear."
Away from slams, the Swiss won 82 per cent of the 1,526 ATP Tour singles matches he played, winning 103 titles, second only to Jimmy Connors.
He also won an Olympic gold in doubles with Stan Wawrinka in 2008 and a silver in singles at London 2012.
Federer also delivered Switzerland its first Davis Cup title in 2014.
Billie Jean King hailed Federer as "a champions champion" as stars flocked to celebrate his "historic career".
"He has the most complete game of his generation and captured the hearts of sports fans around the world with an amazing quickness on the court and a powerful tennis mind," she wrote.
Petra Kvitova wrote "tennis won't be the same without you," on her twitter tribute.
"Thank you for doing more for tennis than any single individual," Canadian star Milos Raonic wrote.
"A role model for me and so many others," Denis Shapovalov wrote.
"Thanks for everything Roger It's been a privilege to share the court with you!"
Federer described the decision as "bittersweet", but added there was plenty to celebrate.
"The last 24 years on tour have been an incredible adventure," he wrote.
"While it sometimes feels like it went by in 24 hours, it has also been so deep and magical that it seems as if I've already lived a full lifetime.
"I have laughed and cried, felt joy and pain, and most of all I have felt incredibly alive.
"I want to thank you all from the bottom of my heart, to everyone around the world who has help make the dreams of a young Swiss ball kid come true."
Federer took the sport to 'new heights'
Australian doubles great Todd Woodbridge said Federer had unmatched grace and class on the court.
"We'll miss the legend who's driven the sport to new heights," he said on the Nine Network.
"His game was elegant, masterful. It took tennis to new levels.
He used to float around the court, nobody moved more gracefully.
"And he taught us it was OK to cry.
"I remember when he walked out on Centre Court at Wimbledon in this most magnificent old-fashioned blazer all done with the little gold trim with the big RF on it.
"That epitomised his class. To me, he's always been the James Bond of tennis."
In Hamburg, Australia's Davis Cup captain Lleyton Hewitt hailed his old rival as the greatest of their era.
"In the mid-2000s, Roger was nearly unbeatable — it was pretty much only Rafa that could get him, especially on the clay, but most of all he's been a great ambassador for our sport," said Hewitt, who played Federer 27 times, winning nine.
"He deserved to go out on his terms. For him to play one more Wimbledon would have been special, but when you get to his age, it's not easy. He's done everything in the sport he could ever dream of."
ABC/AAP
