The Swedish duo confirmed their decision in an open letter published on the Canucks website, saying they planned to spend more time with their families.
“Being part of the Canucks family for 18 seasons has been the best period of our lives,” the Sedins said
“But it's time to focus on our families and life after hockey. It's time to help with homework every night. It's time to be at every birthday party and to stand in the cold at every hockey rink, soccer game and riding lesson on weekends. It's time to be at home for dinner every night.”
The 37-year-olds are the only siblings in National Hockey League history to each score more than 1,000 career points.
The duo will play before their home fans for the final time on Thursday when they face the Arizona Coyotes before concluding with a trip to the Edmonton Oilers on Saturday.
The duo will retire with several franchise-leading records under their belts, with Daniel first in goals (391) and Henrik the all-time leader with assists (828).
However the duo were unable to help guide the Canucks to the Stanley Cup, falling short in 2011 when they lost in seven games to the Boston Bruins.
This season the Canucks have struggled once more, standing 27th in the NHL, leaving them out of the playoff picture for a third straight year.
In the international arena, the Sedins helped Sweden win gold at the 2006 Winter Olympics.