Longtime Texas men's athletic director DeLoss Dodds will retire in August 2014, the school announced Tuesday.
"I love The University of Texas, and I love the people. We've had a great run," said Dodds, 76. "I have been contemplating this decision for a while. (University of Texas President) Bill Powers and I have talked it over, and this is something I am ready to do at this time."
Dodds, 76, took over the Texas program in 1981 and saw it through the demise of the old Southwest Conference and the creation of the Big 12. Texas athletics has an annual budget of $163.3 million, largest in the nation.
"DeLoss Dodds is one of the giants of college athletics," Powers said. "His vision reshaped The University of Texas and the entire NCAA, and it's been an honor to both work with him and call him a friend for so many years.
"I know that we will never truly be able to replace DeLoss Dodds. But the house that he built will remain strong for future generations of Longhorns."
In all, Texas men's programs have won 14 national championships and 108 conference titles under Dodds, who said he'd help with the transition to a successor.
"I want the university to have the appropriate amount of time to find a successor, and I want to ensure that the athletics department can prepare and execute a succession plan for new leadership," Dodds said.
He oversaw a major expansion and renovation of Darrell K. Royal/Texas Memorial Stadium, led Texas through the turbulent years of conference realignment and also negotiated a $300 million, 20-year deal with ESPN to form the Longhorn Network.
In the past two decades, Texas has invested more than $400 million in building and renovating facilities. Dodds also oversaw the creation of The Longhorn Foundation, which has raised more than $400 million since 1986.
Early speculation this month about who could replace Dodds centered around Big 12 commissioner Bob Bowlsby, but he has denied any interest in the job and said he expects to remain in his current role for "a very long time."
ESPN.com's Max Olson contributed to this report.