The heavyweight champion says he took drugs to deal with his depression.
Tyson Fury has given up his WBO and WBA world heavyweight titles to focus on his “medical treatment and recovery”.
The boxer recently admitted taking cocaine to deal with depression, which could see him lose his boxing licence on Thursday and make him banned from the sport indefinitely.
He has not fought since beating Wladimir Klitschko – who has compared Fury to Hitler – in November 2015.
Fury said his decision was “for the good boxing” and it was “only fair and right” to give up his belts.
“I won the titles in the ring and I believe that they should be lost in the ring, but I’m unable to defend at this time and I have taken the hard and emotional decision to now officially vacate my treasured world titles,” he said.
“I now enter another big challenge in my life which I know, like against Klitschko, I will conquer,” Fury added.
Fury was controversially nominated for the BBC’s Sports ‘Personality’ award last year – despite claiming that homosexuality and paedophilia will bring about the apocalypse.
The boxer consistently stood by his comments and denied being homophobic – while also claiming that sex with children was legalised by a fictional ‘Gay Rights Act 1977‘.
He later sparked further outrage after making homophobic, sexist and antisemitic comments in an hour-long video rant.
BBC journalist Andy West was suspended after calling out his employer over the incident, accusing the BBC of “hurting me and other gay people by celebrating someone who considers me no better than a paedophile.”