The 40-year-old. who has scored 250 goals in more than 600 appearances for his one and only club, is to take on a new non-playing role.
The club's new director of football, Monchi said: "In terms of Totti, I already knew that there was an agreement with the club that this would be his final year as a player, then he'd start as a director.
"Francesco is Roma, I want to be as close to him as possible. I'd love to learn even one per cent of the huge amount that he knows."