Jackson made his announcement after media reports Thursday that none of the judges -- including Jackson, Keith Urban, Mariah Carey and Nicki Minaj -- would be back for Season 13.
"Yo! Yo! Yo! To put all of the speculation to rest, after 12 years of judging on 'American Idol' I have decided it is time to leave after this season," Jackson said in a statement.
"I am very proud of how we forever changed television and the music industry. It's been a life changing opportunity but I am looking forward to focusing on my company Dream Merchant 21 and other business ventures."
Jackson is the only original judge left on "Idol."
The show is to wrap up its 12th season next week.
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