Daddy Yankee fans will have one final chance to catch the King of Reggaetón on tour before hanging up his mic.

In a video posted on his website and social media on Sunday night, the reggaetonero announced his plans to retire from music. But before he bids music farewell, he's releasing one more album, "Legendaddy," as well as launching a tour that will kick off on August 10 in Portland, Oregon.

"Legendaddy" will be his first studio album since 2012's "Prestige," and he promises in the video that La Ultima Vuelta will be his best-ever concert tour.

"This career has been a marathon," says Daddy Yankee, born Ramón Ayala, in Spanish. "I finally see the end goal. Now I'm going to enjoy with all of you everything you've given me."

Daddy Yankee coined the term reggaeton in 1994, a decade before his 2004 album "Barrio Fino" broke out on a global stage. He's one of the best-selling Latin artists, having moved around 20 million records during his career.

His list of awards includes Latin Grammys, Billboard Music Awards and Billboard Latin Music Awards, Latin American Music Awards, and an MTV Video Music Award. CNN named him the Most Influential Hispanic Artist of 2009, and Time Magazine listed him among the 100 Most Influential in the World in May 2006.

His first studio album, "No Mercy," was released in 1995. He's sold 20 million records worldwide since and has received countless awards and honors, including 10 Guinness World Records and seven individual Billboard Music Awards, the most for any Latin artist.

"Legendaddy" will be released on March 24.

The La Ultima Vuelta tour will travel the United States before stops in Peru, Argentina, Honduras, Panama, Costa Rica, Guatemala, Chile, Colombia, El Salvador, the Dominican Republic, and Ecuador. It will conclude in Mexico on December 10.