The 32-year-old former world number one will officially make the announcement at a special ceremony on the opening day of the US Open, his agents IMG said in a statement on Thursday.
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Sampras won five U.S. Open crowns and two Australian Open titles to go with his seven Wimbledon victories, but could not win the French Open on the slow clay courts at Roland Garros.
He failed to advance beyond the second round eight times in his 13 appearances in Paris, though he did reach the semi-finals there in 1996.
However, it was a different story on the grass in London where he won the title seven times in an eight-year span from his first in 1993 until his last in 2000.
The only blip was when Richard Krajicek beat him in the quarter-finals on the Dutchman's way to the title in 1996.
Sampras won his first Grand Slam title at the age of just 19 years and 28 days in the U.S. Open in 1990, upsetting Ivan Lendl, John McEnroe and Andre Agassi in the final three rounds to become the youngest ever champion.
He then proceeded to dominate the world rankings and in 1994 he became the first player since Lendl in 1987 to hold the top spot throughout the year, while in 1998 he became the first man to finish the year as the world number one for the sixth successive year.
GRAND-SLAM RECORD
In 2000, he overcame shin and foot problems sustained in the second round to break Australian Roy Emerson's record for most Grand Slam titles when he claimed his 13th by defeating Australian Pat Rafter in the Wimbledon final.
He won his last Grand Slam title at Flushing Meadows in 2002 -- his first tournament title in two years -- with a four-set victory over old friend and rival Agassi in the final.
"When I came back to Flushing Meadows last year, everyone thought I couldn't win," he said earlier this year. "Then I did win. So when I beat Andre in the final, it meant something enormous to me.
"I wanted to prove something, that I was still able to win a 14th Grand Slam tournament," he added.
Sampras said several times his heart was no longer in the game he dominated but he was not quite ready to call it quits.
"I did not want to close the door for good," he said in June. "I will see at the end of the year if I will quit or not. Maybe in November or December, after more than a year without a competition, I will have the desire to play a few tournaments.
"With a bit of luck, it will be for the U.S. Open or Wimbledon in 2004."
But on Monday, it seems that door will close for good.
