(CNN) -- Ohio State University head football coach Urban Meyer is calling it quits after the Rose Bowl on New Year's Day, the university said Tuesday,
The university will announce his retirement at a 2 p.m. ET news conference.
The three-time national champion skipper's announcement comes a day after Buckeyes fans learned quarterback Dwayne Haskins is a finalist for the Heisman Trophy, given to college football's most outstanding player, and two days after the Buckeyes narrowly missed the four-team College Football Playoff.
Meyer missed three games this season because of a suspension stemming from domestic violence allegations against one of his former assistants.
Ryan Day, who coached the Buckeyes during Meyer's absence and was promoted this year to offensive coordinator, will take the team's reins upon Meyer's departure.
Ohio State suspended Meyer without pay for the first three games of the 2018 season after he and athletic director Gene Smith "failed to take sufficient management action" on spousal abuse allegations involving ex-assistant coach Zach Smith.
Meyer apologized to Ohio State fans following word that he would be suspended.
"I'm fully aware I'm ultimately responsible for this situation," Meyer said in August. "I followed my heart and not my head. At each juncture, I gave Zach Smith the benefit of the doubt."
Ohio State finished the season at No. 6, with a 12-1 record. Meyer's last game will be against the ninth-ranked Washington Huskies in Pasadena, California.
Meyer won two national championships with the Florida Gators before taking the head coaching spot in Columbus ahead of the 2012 season. He led the Buckeyes to a national championship two years later. He previously coached at Bowling Green and Utah
With a 186-32 record over 17 seasons, Meyer steps down with one of the best winning percentages in the history of college football. His tally includes 11 bowl wins, the inaugural 2015 College Football Playoff among them.