Irish star Doherty, 56, who is affectionately known as “The Darlin’ of Dublin”, stated that “it’s the right time” for him to walk away.
Doherty’s finest hour came in 1997 when he won the World Snooker Championship, beating Stephen Hendry 18-12 in the final.
Doherty also reached the UK Championship final three times, losing on each occasion, while he was also a two-time beaten finalist at The Masters.
Doherty has worked with the BBC as a pundit and commentator for an extended period alongside his playing career, and he is set to continue in these roles after putting his cue away for good.