The Perth Test will be Ponting's 168th, meaning he will finish his career level with former captain Steve Waugh as Australia's most-capped Test player.
Heading into his final match the Tasmanian, who will turn 38 next month, has scored an Australian-record 13,366 runs at an average of 52.21, including 41 centuries and a highest score of 257.
Ponting's retirement comes nine months after he quit the one-day international arena and just under two years after he relinquished the captaincy of the Test squad following the 2010/11 Ashes loss.
His 48 Test wins as captain was another Australian record, although his leadership will also be remembered for three Ashes defeats, the first of them in 2005 coming after his country had held the famous urn for 16 years.
After making his debut in 1995/96 against Sri Lanka, scoring 96 before being given out LBW to a delivery that appeared set to bounce over the top of the stumps, Ponting became Australia's most prolific batsman.
His international career will now wind down at the same ground where it began against Sri Lanka.
Ponting was named ICC Player of the Year twice, in 2006 and '07, the international body's Test player of the year three times - in 2003, '04 and '06 - won the Allan Border Medal in 2004, '06, '07 and '09 and as well as being the Wisden Cricketer of the Year in 2006 was also CricInfo's Player of the Decade for 2000-09.
