Five-time Major winner Peter Thomson has announced his intention to retire from golf course design businesses, Thomson Perrett in Melbourne and Thomson, Perrett and Lobb in London.

The 86-year-old cited his age and waning health for his decision to retire after 51 years in course design.

"Due to my age and declining health, and in consultation with my family and two partners, Ross and Tim, I have decided to retire completely from the golf design businesses," Thomson said in a statement.

"I have encouraged Ross and Tim to continue with their golf design practices for ongoing projects, as well as creating new golf courses on their own long into the future."

"For over 51 years, we have embarked on many exciting projects in more than 30 countries and bringing the game to regions previously without proper golf courses. This has given me much satisfaction as I reflect upon our achievements."

A prolific tournament champion around the world, Thomson has 89 Professional wins to his name, including five Open Championship wins, and is one of Australian golfs most celebrated golfers.

In 1985, Thomson was inducted into the Sport Australia Hall of Fame followed, in 1988, by induction into golf’s most honoured club, the World Golf Hall of Fame.