The rapper, who last toured in 2011, broke the news during an interview on "The Ellen Show," according to Billboard.
While he did not reveal any exact details, he confirmed: 'I'm gonna go and do a world tour. I'm not gonna hit a lot of places, but the places that I am gonna hit, it's important for me because it's probably my last time touring.
"I'm gonna get to see the world and know that it's my last time touring. I wanna be here to raise my girls."
P. Diddy, real name Sean Combs and previously known as Puff Daddy, released his last album in 2009.