Bochy announced Monday that this will be his last season managing the San Francisco Giants, his 25th as a big league manager.
He told the team before Monday's spring training workout at Scottsdale Stadium.
"In my mind it's time," he said.
Bochy, who turns 64 on April 16, had offseason hip replacement surgery that has him moving more swiftly. He came to San Francisco from the San Diego Padres before the 2007 season, in time to watch Barry Bonds break Hank Aaron's career home run record that August.
Bochy begins his 13th season with the Giants. He led the club to World Series titles in 2010, '12 and '14.
"I've managed with my gut. I came up here in 2007 on my gut. So it's a gut feeling it's time," Bochy said. "It's been an unbelievable ride. There's so much in there to be grateful for, with the players, the city, the fans, my ride here. It's time. I'll stay in baseball and do something."
Every other manager with three or more titles has been inducted into the Hall of Fame.
"I haven't even thought about that," he said.
He has faced daily questions about his future, and Bochy wanted to address his plans now and avoid distractions later in the season. He intends to stay in baseball in another role that has yet to be determined.
"It's something I put a lot of thought in it," Bochy said. "There's a lot of things that I look forward to doing, but right now my head's at this moment, hey, I'm going to focus on getting this team ready. I look forward to one more shot, trust me, and us having a big year. I'm all in."
He spent his first 12 seasons as a manager with the Padres from 1995 to 2006, guiding San Diego to the NL pennant in 1998.
Bochy came to the decision over the winter but had all but realized this would be his last year at the end of the 2018 season. He discussed it with family and the front office.
"I'm not going anywhere. I don't have any cruises planned, trust me, I don't plan on going up Mount Everest. Baseball, that's my life. I'll be around," Bochy said. "I don't have a bucket list. There's no hidden agenda in all this, trust me."
In 24 years as a manager, he has a record of 1,926-1,944. His victory total ranks 11th on the all-time list.
Bochy played nine seasons in the big leagues as a catcher for the Astros, Mets and Padres.
Bochy: 'It's been an unbelievable ride'
Giants manager Bruce Bochy announces his upcoming retirement and explains how much he has cherished his time in San Francisco.