The 41-year-old said he would hang up his helmet as a professional racing driver after competing in this weekend's final Bahrain round of the FIA world endurance championship for Toyota.
"I’ve enjoyed half of my lifetime competing at the top of motorsport and another quarter of it working my way up there, so I feel the time is right to call it a day," he said.
Wurz is currently also the chairman of Formula One's Grand Prix Drivers' Association.
In Formula One, Wurz raced for Benetton, McLaren and Williams and made three podium appearances -- one with each team between 1997 and 2007.
(Reporting by Alan Baldwin, editing by Justin Palmer)
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