The cult New York band, who formed in 1997, have announced their upcoming sixth album, Disassocation, will be their last, reported NME magazine.
"I think it's one of those things where we didn't want to get to the point where we're stopping because we have to or because we're old or people are kind of over it," guitarist Ben Weinman said.
"I'm pretty proud to say we made it to 20 years of being a full-time active band. It's an interesting life, you know?"
The band will honour all upcoming touring commitments before calling it a day.
"Then I'm sure we'll come back around and hit summer festivals and figure out what our very last shows will be around that time.