The Canadian Freestyle Ski Association made the announcement on Friday.
Bilodeau, of Rosemere, Que., will compete in one last event, the season-ending World Cup in La Plagne, France on Friday before hanging up his skis.
The 26-year-old is currently 31 points behind Deux-Montagnes, Que., native Mikael Kingsbury for the Crystal Globe — awarded at the end of the season to the athlete at the top of the overall world standings. Bilodeau won the FIS moguls World Cup title in 2008-2009.
Bilodeau took gold medals at both the Sochi and Vancouver Winter Games, making him the only freestyle athlete to win back-to-back Olympic titles. Kingsbury took silver in Sochi last month, and has won the Crystal Globe the last two seasons.
On the women's side, Olympic champion Justine Dufour-Lapointe of Montreal trails American Hannah Kearney by only five points in the world standings. Kearney has won four FIS moguls World Cup titles, including the last three seasons.