"I've had a good run, I think you'd admit that," John said Wednesday, adding that he wanted to "leave people thinking, 'I saw the last tour and it was fantastic.'"
The 70-year-old singer, pianist and composer said he wanted to spend time with his family. His children will be 10 and 8 when he stops in 2021, and John said he hoped he might be able to take them to soccer practice. "My priorities now are my children and my husband and my family," he said. "This is the end."
His final tour -- dubbed "Farewell Yellow Brick Road" -- starts in September. It will consist of 300 shows in North America, Europe, Asia, South America and Asia. Tickets go on sale beginning Feb 2.
John said he decided on his retirement plans in 2015 in France.
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"I can't physically do the traveling and I don't want to," he said. He also ruled out a residency but vowed: "I will be creative up until the day I die."
His hits include "Your Song" and "Candle in the Wind." He has won five Grammys, an Oscar, a Golden Globe for "The Lion King" and a Tony Award for "Aida." He is the recipient of a Kennedy Center Honor.