Caroline Wozniacki will play an exhibition match against her long-time friend Serena Williams after her retirement to celebrate her career.

The 29-year-old announced that she would be stepping away from the sport after the Australian Open next month.

The Danish player announced on Instagram: "I’ve played professionally since I was 15 years-old. In that time I’ve experienced an amazing first chapter of my life. 

"With 30 WTA singles titles, a world #1 ranking for 71 weeks, a WTA Finals victory, three Olympics, including carrying the flag for my native Denmark, and winning the 2018 Australian Open Grand slam championship, I’ve accomplished everything I could ever dream of on the court. 

"So with that, today I am announcing that I will be retiring from professional tennis after the Australian Open in January. This has nothing to do with my health and this isn’t a goodbye."

Williams reacted to Wozniacki's retirement announcement with broken heart emojis on Instagram.

The match between the two is set to take place on May 18 next year at the Royal Arena in Copenhagen. It is being promoted as 'The Final One' and tickets are already on sale.

The pair have played each other 11 times and the American has won ten of the clashes.