The 40-year-old former England international confirmed his decision in statements released by the club and on social media, but said his immediate focus remains on helping Ipswich secure promotion to the Premier League.
"My full focus is on Saturday and helping this club achieve our goal, which is promotion back to the Premier League," Young said. "I am incredibly proud and fortunate to have achieved everything I have during my career."
Ipswich face Queens Park Rangers in their final game of the campaign, sitting second in the table and one point above third-placed Millwall, with Middlesbrough a further point behind. A win would secure automatic promotion.
Young added on social media: "It's been some journey that I only dreamt of as a boy. But with this dream there has to be an ending and Saturday might be the last game of my professional career … 23 years and OUT."
He began his career at Watford in 2003 and went on to play for Aston Villa, Manchester United, Inter Milan and Everton, initially as a winger before later converting to a full-back.
Across his club career, Young made 765 appearances and scored 88 goals. During his time at Manchester United, he won the Premier League, FA Cup, League Cup and Europa League, while he also claimed the Serie
A title with Inter Milan.
Young earned 39 caps for England after making his debut in 2007, scoring seven international goals.
He joined Ipswich in July 2025 on a one-year deal following his departure from Everton. An injury-affected season has limited him to 13 appearances, with his last outing coming in January as a substitute against Bristol City.
"I knew I was going to have to come to this decision at some point," Young said. "I'm not getting any younger and my body has started to talk to me now as well. To be able to go out on my own terms is the main thing for me."
Ipswich manager Kieran McKenna said Young had made a significant contribution during his time at the club.
"Ashley's career in the game speaks for itself and it has been an honour to have worked with him," McKenna said. "The professionalism, competitiveness and quality he displays every day has had a massive impact on the group this season."
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