Jack Nicklaus has reduced his business commitments to devote more time to his family and focus on charity work.
The 78-year-old American has spent most of his life establishing the Golden Bear brand as one of the most recognisable in golf, but Nicklaus said on Thursday the time has come to focus on wife Barbara and his family.
Nicklaus, who says his health is excellent, announced he will continue to support the Nicklaus Companies.
"I have spent my life building the Nicklaus Companies, and there has come a time in my life when I need to reduce my level of involvement and pursue many other things I am very interested in," Nicklaus said.
"I am 78 years old, and while my health is excellent, and I have a great deal of energy and enthusiasm, it became apparent by last fall that it was time for me to spend more time on these other activities."
He added: "My life has changed and I wish to support my wife, as well as other family members, in any endeavour they are involved.
"I have said many times that Barbara spent much of her life supporting me and my career, and for the last few years, I have tried to dedicate my time and energies to supporting her and what she is involved in.
"I am enjoying that aspect and want to continue to devote my time to her and these other life-changing efforts, and to enjoy our lives together."