The WBC heavyweight champion, who has turned 34 years old, originally announced his retirement from the sport after knocking out Dillian Whyte at Wembley Stadium last April.
However, the talk of a possible comeback gained traction last June after the Brit revealed "big pockets" would be needed for a potential unification bout against Oleksandr Usyk or Anthony Joshua.
Just two days ago, Fury was linked with a possible third fight against Derek Chisora.
Nevertheless, the Gypsy King appears to have called time on his boxing career, with a post on social media.
It read: "Massive thanks to everyone who had an input in my career over the years & after long hard conversations I've finally decided to walk away & on my 34th birthday I say Bon voyage."
Earlier, Fury's promoter Frank Warren hinted at a possible comeback, with the 70-year-old telling Sky Sports the heavyweight king would "miss it too much".
He said: "I speak to him all the time. If he wants to fight, he'll fight. I'm not going to tempt him. Because if he needs that then he shouldn't be fighting.
Warren added: "Do I think we'll see Tyson in a ring [again]? I do because I think he's a fighting man and I think he'll miss it too much."
Next weekend, the heavyweight crown will be on the line as Anthony Joshua looks to avenge his defeat against Oleksandr Usyk.
The WBA, IBF, WBO and IBO heavyweight crowns will be at stake at the King Abdullah Sports City stadium in Jeddah, Saudi Arabia.