Glebe Markets owner David McCumstie says he felt it was time to pack it in after having worked the Saturday fixture since his parents founded them in 1992.
Mr McCumstie and his wife Naomi, who run the famous inner-Sydney market, have told stall owners they will be closing; the last trading day will be February 25.
The NSW Department of Education said a tender process to find a new operator of the markets on the grounds of Glebe Public School would commence.