The 39-year-old, who also played for Watford, West Bromwich Albion, Bolton Wanderers and Leeds United, has made more than 750 appearances over a 22-year career.
Robinson signed a one-year player-coach contract at St Andrew's at the start of the season, but has only appeared three times for the Blues this campaign.
"At the end of the season it will be bye to playing but the start of a new exciting chapter," the veteran wrote on Twitter.
"I have loved wearing every shirt with pride. I have played my heart out every time and I've achieved from a young age my dream."
Robinson was also capped three times for the England Under-21s team in 1999.