"I've had enough."
Sir Elton went on to explain that he is stepping down from touring because he wants to spend more family time with his husband David Furnish and their two sons, Zachary and Elijah.
"They're so funny – they're great kids, they keep us amused, that's why I'm coming off the road after this world tour," he added. "I need to be there for them and I need to spend that time with them.
"I miss them so much when I'm not with them."
Sir Elton went on to admit that while he is retiring from touring, he's not quitting work altogether.
In fact, he's very much interested in moving forward and taking his career in a new direction.
He continued: "I think people like to do voice-overs in movies. It's fun. I would love to do something with animated movies."
Sir Elton recently produced and created the soundtrack for upcoming animated movie Sherlock Gnomes, following the success of Gnomeo and Juliet.
"I love gnomes," the star laughed. "We have a couple in our house in London. In fact, we have about eight in a row!"