Three-time MotoGP world champion Jorge Lorenzo has announced he will retire following this weekend's finale in Valencia.

The Spaniard has completed 12 seasons in the premier class and has been involved in some of the most memorable moments over the past decade, notably his rivalry with Valentino Rossi at Yamaha.

A move to Ducati in 2017 marked a turning point in his career, however, and in the past three years injuries and poor form have left Lorenzo nowhere near the competitor he once was.

For 2019, he joined Honda to forge a super-team with Marc Marquez, however, while his fellow countryman has romped to a sixth championship and a record points haul, Jorge has managed just 25 points all season.

"I love this sport, but above all, I love winning," he said at a special media session on Thursday.

"I have let myself down and I have let down Honda, but I think this is the best decision for me and the team. We are both winners and we always have to fight to win."

Injuries have long plagued Lorenzo missing eight races alone in the past two seasons and he has failed to score a top-10 finish since his last victory in MotoGP at the 2018 Austrian Grand Prix.

"In this stage in my career it has been impossible to stay concentrated, I feel very bad for Honda," he added.

"I'm fortunate to have the career I've had. I've battled with a lot of riders who have not been able to fight to win a world championship like I have. I will always feel very fortunate for having that opportunity."

Lorenzo ends his career with three titles to his name, 2010, 2012 and 2015, and 47 wins.