In 2003, Larkin had spent two stints on the disabled list with calf injuries by late May. During strained contract negotiations with Reds COO John Allen in late 2003, Larkin almost left the team. Larkin and the Reds agreed to a one-year contract for 2004. Larkin called off a planned retirement ceremony scheduled for October 2, 2004, because he was not sure if he would retire. In that season, Larkin hit for a .289 batting average. He announced his retirement in February 2005.