
Schmidt was crowned coach of the year in Monaco on Sunday having overseen a stellar year for Irish rugby, which has included a Six Nations Grand Slam, a series victory in Australia, and, most recently, a win over the All Blacks in Dublin.
The New Zealander, who has spent five years in the role, will be replaced by Briton Andy Farrell, currently the team's defense coach.
"I have decided to finish coaching and will prioritize family commitments after the Rugby World Cup in 2019," said the 53-year-old Schmidt on Monday.
"I feel that Irish Rugby is in good hands. The management and players have been incredible to work with and the tremendous support we have had, particularly at home in the Aviva Stadium, but wherever we have traveled has been uplifting."
Schmidt has been at the forefront of the most successful period in the history of Irish rugby, which has included three Six Nations titles and a first ever victory over New Zealand in 2016.
He helped Ireland set a 12-match unbeaten run during the 2016/17 and 2017/18 seasons, as well as an ongoing run of 12 consecutive victories at home.
"Thank you to the IRFU for their support and patience and thanks also to so many people who have adopted my family and me, making us feel part of the community here in Ireland," Schmidt continued.
"There are some inspiring challenges over the next 11 months so there's plenty of motivation for me to continue working hard, alongside the other management staff, so that the team can be as competitive as possible."
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