Rovers boss Sam Allardyce has revealed that the 38-year-old, who has spent eight years at Ewood Park, is set to leave over the summer.
“We will say farewell at the end of the season and thank you very much for what you have done for Blackburn,” said Allardyce.
“Certainly if we remain in the Premier League, Tugay can bow out gracefully after playing at the top level most of the time.
“He has had a fantastic career. But at 38 and the ever-increasing demands of the Premier League, certainly in a physical sense, it means you cannot go on forever.
“We don’t really want to go into anybody’s negotiations, but seems as though he came and knocked on my door and asked me, we talked about it. He is now thinking about retiring.
“He has been a great servant to the club and if there is going to be a testimonial I don’t have a problem with that.”