The rapper revealed that he won't record any new material after releasing his next album Food & Liquor II: The Great American Rap Album Pt. 1 on September 25.
"This album will probably be my last. It's been a pleasure to have all my fans provide so much love and inspiration for me and my family," he tweeted.
"But my heart is broken and I see no comfort further along this path only more pain. I cannot participate any longer in this.
"My first true love was literature so I will return to that. Lupe Fiasco ends here."
Fiasco is still contracted to Atlantic Records for one more album and was planning a sequel to his upcoming LP. He previously criticised the label for delaying the release of Food & Liquor II: The Great American Rap Album Pt. 1.
Watch Lupe Fiasco and Guy Sebastian's video for 'Battle Scars' below: