The benchmark will see Murphy become the sixth player to play 300 games in the navy blue, joining the likes of John Nicholls, Bruce Doull, Craig Bradley, Stephen Silvagni and Kade Simpson.
“Being recruited to Carlton back as an 18-year-old was a dream come true and looking back over my career now, it really has been extremely rewarding and I feel very grateful to be a Carlton man,” Murphy said, per the club's website.
“There have certainly been some tough times along the way but equally, I’ve experienced some incredible highs – including being captain, which was an honour I’ll cherish for the rest of my life.
“It will feel very different not walking into this Club every day that I’ve called home, but I’m very lucky to have been able to do that these past 16 seasons with some incredibly fond memories and lifelong mates.
“I’d like to thank my family, all of my teammates, coaches and staff for all of their support over the years, and of course every member and supporter who has stood by the Club along the way.
“I can’t wait to pull on the Carlton guernsey one last time and run out with the boys this weekend.”
Murphy made his debut for the Blues in 2006 and would be named as the club's captain for the 2013 season, a role he held until 2018.
A two-time best and fairest, All-Australian and AFLCA Champion Player of the Year, Murphy ends a decorated career as one of Carlton's greatest.