Daddy Yankee, aka the "King of Reggaeton," has announced he is retiring.
The global music icon, who is considered one of the best-selling Latin music artists, shared a video on Instagram on Sunday revealing the news.
He also revealed he will drop his farewell album, his first studio album in 10 years, this month.
"Today, I’m announcing my retirement from music by giving you my best production and my best concert tour," Daddy Yankee said in a statement.
MORE: 'Despacito' earns Daddy Yankee Spotify's top spot"I will say goodbye celebrating these 32 years of experience with this new collector's item, the album 'Legendaddy,'" his statement continued. "I'm going to give you all the styles that have defined me, in one single album."
Daddy Yankee's third studio album, "Barrio Fino," released in 2004, contained his megahit "Gasolina," which helped propel him to stardom.
The album also helped Daddy Yankee to become the first reggaeton act to debut at No. 1 on Billboard’s Top Latin Albums chart.
He is the first Latin artist to reach No. 1 on Spotify, the Guinness World Records confirmed in 2017.
The "Despacito" artist has received many accolades throughout his long career and is credited with paving the way for many other reggaeton artists in the industry.
His farewell album, "Legendaddy," will be released on March 24 and his five-month farewell tour “La Última Vuelta” (The Last Round) kicks off August 10, concluding in December.