"In my book I wrote, 'There's a fine line between being selfish and being driven,' and I crossed that line a lot when I was younger," he said.
"And I didn't get a chance to spend a lot of time with my older boys and I regret that now."
But Rogers, 77, will sign off with a final farewell world tour next year.
Cities and dates have yet to be announced.
In a video message to fans on his website, Rogers said: "I love all of you, I love the way you've treated me. You've always been respectful and I will miss you dearly but I must go be with my boys. Goodbye."
Rogers, who famously sang 1983's chart-topping Islands in the Stream with Dolly Parton, has 11-year-old identical twin sons and three older children from his previous marriages.
The Grammy-winning star will also be hitting the road later this year to promote his latest Christmas album, Once Again It's Christmas.
Rogers said he is still considering making new music, including a possible duets album.
"I found that everybody sings better as a duet,'' said Rogers.
Rogers will start his Christmas tour in November in Canada.
He famously played Glastonbury Festival in 2013. He described it as one of his top five experiences, adding that he "loved that repartee with the audience".
Country star Kenny Rogers has announced he is retiring from touring to spend more time with his two young sons and his wife, Wanda.