The Spaniard ended his footballing career after 18 years as a professional.
Torres’ last game will come for Japanese side Sagan Tosu, with more details to come in a press conference on Sunday.
And the 35-year-old used an emotional video on social media to make the announcement.
Speaking in Spanish on his Instagram channel, Torres said: “Hi everybody, I’m making this video because I have something very important to announce.
“After 18 exciting years, the time has come to put an end to my football career.”
A montage of the Spaniard’s biggest moments of his career then follow, along with honours won such as the Champions League.
Torres added: “Next Sunday, the 23rd at 10:00 a.m., local time in Japan, I will have a press conference in Tokyo where I will explain all the details and answer your questions.”
The Spaniard’s announcement comes as:
“After 18 exciting years, the time has come to put an end to my football career”
“See you there,” Torres concluded.
It has been viewed more than 135,000 times since it was published this morning.
Both Liverpool and Chelsea fans were quick to express their gratitude to the forward.
“All the best, Torres,” one Blues supporter said.
“That goal in Barca was something special.”
This refers to his Champions League goal at the Nou Camp, scored in the dying moments of the second leg to secure a place in the 2012 final.
A Reds fans commented: “King. Thank you for making me love the game.”
While hundreds of fans posted the crying emoji in response to the announcement.
And a third fan simply added: “Thanks for the memories.”
The forward jumped onto the scene at Atletico Madrid in the early 2000s, sparking the interest of Liverpool.
He went on to score 81 goals in more than 140 appearances before a then-record £50million move to Chelsea in 2011.
After a slow start, the Spaniard scored 45 goals at Stamford Bridge over five seasons.
Returning to his home club for two seasons, the 35-year-old the joined J1 League side Sagan Tosu two years ago after dropping out of the La Liga side’s starting XI.
Torres will reveal more details about his retirement on Sunday at 2am UK time.
It comes as former team-mate Petr Cech could be heading back to Stamford Bridge.