(CNN) — Daddy Yankee, one of reggaeton’s biggest names, announced Sunday he’s retiring after 32 years in the music industry.

“This race, which has been a marathon, finally sees the finish line. Now, I am going to enjoy what all of you have given me,” the singer said in a video statement posted to YouTube. “People say that I made this genre worldwide, but it was you who gave me the key to open the doors to make it the biggest in the world.”

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He will bid departure to his fans with one last tour and album, “Legendaddy,” out on March 24.

“I’ll give you all the styles that have defined me on one album. ‘Legendaddy’ — it’s fight, it’s party, it’s war, it’s romance,” the singer explained.

Daddy Yankee’s Legacy

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“Gasolina,” one of the singer’s best-known songs, came out in 2004 and is often credited for introducing reggaeton to an international audience.

In his widespread career, Daddy Yankee sold more than 30 million records.

In 2017, Yankee collaborated with fellow Puerto Rican Luis Fonsi in “Despacito,” a record-breaking single that anchored itself at the top of Billboard’s Hot 100 for 16 weeks. It is also YouTube’s second most-streamed video of all time.

His La Última Vuelta World Tour will kick off on Aug. 10 in Portland, Oregon and run through December, finishing with a date in Mexico City.

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