The 36-year-old will call time on his eight-year career at Goodison Park but has announced that he has no plans to retire from professional football.
"It's been an honour to play for and captain Everton Football Club," Neville told the club's official website. "I've thoroughly enjoyed my time on Merseyside and will leave with immense pride.
"I would like to thank the manager, chairman, all of the staff and the players at Everton for their continued support during my time at the club. I'd also like to pay a special thanks to the fans, who have been amazing over the past eight years and Everton will always have a place in my heart.
"I want to continue to play at the top level as long as I physically can, and will be weighing up my options before making a decision on my next move. I'll now be doing everything I can to help Everton finish as high up the league table as possible."
Neville moved to the Premier League outfit from Manchester United in 2005 and has since racked up 303 appearances and scored eight goals.
The club skipper will join up with the England Under-21 setup as a coach for this summer's European Championships.