However, the Scotland international centre will play on with Wasps until June.
And then the 32-year-old will have a change of career, becoming director of rugby at Uppingham School.
De Luca, who attended Lockerbie Academy, joined the Wasps team, based in Coventry, last year and has enjoyed the experience.
Breaking the news on their website this week, he said: “It has been an incredibly difficult decision to retire from the game at the end of the season, but one that was made easier after I met Uppingham School headmaster Richard Maloney and he shared with me his vision for the school.
“To be able to retire from professional sport on your own terms is becoming rarer these days and I would like to thanks Chris Bell, Wasps’ head of off field player development, for his assistance in helping me put steps in place for a smooth transition when I do hang up my boots.”
He also thanked his wife and family for their ‘unwavering support’ during his decade at the top, in which he picked up 43 caps for Scotland.
Reflecting on his “incredible” journey, De Luca said: “I have been privileged to play rugby at the highest level, to be coached by world class coaches and to work alongside and against some of the best players of my generation, during my career playing for Scotland, Edinburgh, the Borders, Biarritz and Wasps.
“It is through these experiences that I believe I can help the next generation of rugby stars.
“Until then, I will savour the final few months of professional rugby and do my best to help the squad go as far as we can in Europe and in the Premiership this season.”
Wasps’ director of rugby Dai Young said: “We are pleased Nick will be staying with us for the rest of the season. He is a model professional who has done really well each time he has pulled on the Wasps’ shirt. He has a great attitude and adds a lot to the squad through his international experience.”