"Tennis—I’m saying goodbye" - Sharapova said as quoted by Vanity Fair.
"After 28 years and five Grand Slam titles, though, I'm ready to scale another mountain - to compete on a different type of terrain."
Sharapova currently ranks 373rd in the WTA ranking. She repeatedly said in the past that she was not going to stop and would continue to play.
Sharapova gained fame at the age of 17 after winning Wimbledon 2004, thus becoming the third-youngest player to conquer the All England Club's courts.
A year later, she became the world number one and won the US Open the next year.
Sharapova has 36 singles titles and five Grand Slam titles — two at the French Open and one each at the Australian Open, Wimbledon and US Open — and is currently ranked third, just behind Serena and Venus Williams.
In 2016, she tested positive for meldonium and was disqualified, during the Australian Open, for two years.