Roberta Vinci has announced that she will after the Internazionali BNL d'Italia in May.
The Italian confirmed her intention to step away from the court via a video on Twitter, and added a caption inviting fans to be guests at the "party".
Vinci reached the final of the US Open in 2015, where she famously defeated Serena Williams in the semi-finals to end the American great's hopes of a calendar Grand Slam only to lose the final to compatriot Flavia Pennetta.
The 34-year-old reached a career-high singles ranking of seven in May last year, but has plummeted to 117 since then.
Vinci has won 35 titles across singles and doubles competition.
Speaking to the Gazzetta Dello Sport, she said: "I've decided to continue and return to the court, but not for the whole year.
"I'll finish at the Foro Italico. In the middle of the season I will say goodbye to tennis and it's something I've considered for a long time.
"I've decided to make one last appearance in front of the Italian public as a way of saying thanks to all Italians."