Klitschko’s last fight was a defeat to British-Nigerian born pugilist Anthony Joshua in April when he was stopped in the 11th round.
A potential rematch in November with the 27-year-old Joshua will now not take place.
Klitschko’s defeat by Joshua was the fifth in his professional career and a second successive loss after going down to Tyson Fury in November 2015.
The Ukrainian Klitschko held various titles in a glorious 21-year career which started as a professional after winning Olympic gold at the 1996 Games in Atlanta.
He was unified champion 2006-2015.