The 67-year-old Charles became the first left-hander to win a major with his victory at the 1963 British Open. Canada's Mike Weir became the second at this year's Masters.
Charles won the first of his four New Zealand Open titles at Heretaunga, near Wellington, in 1954 and claimed the first Open held at the Grange -- this year's course -- in 1970.
'It's my last competition with the young boys as we seniors describe them,' Charles said. 'I will give up my spot to one of the young boys who is far more deserving than a broken-down old hack like me.'
Charles said he was not retiring from golf, although he would be scaling down his tournament schedule. He will continue to play in seniors tournaments in the United States and Europe.
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