'No Way Out 2' will be the rapper's final album.
It's the end of an era for Sean Combs.
The rapper -- referred to over the years by a slew of nicknames, including Diddy, but currently going by "Puff Daddy" – is opening up about his retirement from music, opting to focus his creative energy on acting. Combs is currently working on his final album, No Way Out 2.
"I'm going to put out my last album and devote 100 percent of my time to doing films," he told Cigar Aficionado magazine. "I want to stop at a great place. And a final album is a great place to stop. I want to take a victory lap, to do a world tour and really enjoy it one last time."
READ: Sean Combs Forced to Explain Jennifer Lopez Reunion to His Girlfriend Cassie
Perhaps with his own legacy weighing heavy on his mind, the 46-year-old entrepreneur got candid about his drive to make music that will stand the test of time.
"When I'm gone, only the songs will survive. I know I'm making music that will live on," he said. "I don't go into the studio just to be hot or to hear myself on the radio. Michael Jackson, Tupac, Biggie -- part of them lives on in their music, even though they're not here anymore. That's really deep, man. The only other thing like that is religion."
Combs released his debut album, No Way Out, in 1997. Since then, he's released a total of five studio albums and, most recently, one mixtape.
NEWS: Sean Combs to Open a New School in Harlem Beginning Fall 2016
"The way I have to come back is exciting to me," he explained. "If you're not putting out albums all the time, you have to come back in a way that grabs attention. People are always looking for what's next - but the cream always rises to the top. I'm going to make it the most honest and best that I can. If I can be fearless with it, nothing can stop me."
In addition to building his professional empire, Combs is equally focused on raising his children.
"I have such a deep appreciation at being able to be a father. My father didn't get the chance to be there for me. That makes me appreciate the opportunity that much more deeply," he confessed. "I stress the importance of that to my kids - that you can't take having a family for granted."
Combs opened up even more about being a father in a recent interview with ET, when he re-teamed with his one-time mentee, Pharrell Williams, as a mentor on The Voice.
"We're so close, so they know me and they can read me. I've been giving them advice so long, I guess it taught them how to give advice," Combs said of his kids. "On a personal level, I actually sent my girls some texts and I just asked them, I said, 'Can you tell me how to become a better daddy?' That's the kind of relationship that I have with them. They are the ones giving me advice now."
WATCH: Pharrell Williams Comes Full Circle as Personal Mentor Sean Combs Joins 'The Voice'