Rob Manfred, who has served as MLB commissioner since 2015, will step down in January 2029.
"This is going to be my last term," Manfred told reporters Thursday.
MLB owners voted in July to give Manfred, 65, a third five-year term as the head of the league.
"You can only have so much fun in one lifetime," Manfred said. "I have been open with them about the fact that this is going to be my last term."
Manfred has held full-time executive positions in the MLB since 1998.