The veteran mixed martial arts fighter made the announcement on the "UFC Tonight" TV show.
Hominick (20-12) has lost his last four fights, a run that start with a loss to champion Jose Aldo at UFC 129 in April 2011 in Toronto.
Hominick rallied in the fifth round against Aldo for a thrilling finale but lost the decision.
Hominick's pro career dates back to 2002. He fought in both the UFC and WEC.