Newman told his teammates of his decision earlier today, after 14 seasons and 264 games with the Tigers.
Coach Damien Hardwick said Newman has been a great servant of the football club.
“Chris has been an outstanding representative of the Richmond Football Club for 15 years, both on and off the field,” said Richmond coach Damien Hardwick.
“He has been a brilliant player, a strong and composed leader, and a magnificent role model.
“He took over as Richmond captain in a difficult time, and carried himself impressively as he helped build the strong culture which exists at Tigerland today.
“I’m sure the players will be doing everything they can to make sure he gets an appropriate send off, and it’s fitting that our fans can pay tribute to him during the remainder of the season.”
The 33-year-old was taken with pick No.55 in the 2000 National Draft.