The 34-year-old goalkeeper feels it is only right that he step aside now to allow the Selecao to find a worthy successor for the World Cup in Russia in 2018.
The QPR-owned goalkeeper, who is currently on loan at Toronto FC, will turn 35 next year and does not believe that he should make himself available for the 2015 Copa America, believing the Selecao's focus should be on finding a new No. 1 for Russia 2018.
"This is probably my last World Cup," he told reporters after Brazil's 3-0 loss to Netherlands in Brasilia on Saturday. "To play at the Copa America in 2015, at the age of 35, would be quite complicated. To go there without having the 2018 World Cup in mind would be selfish on my part.
"The time has come for other goalkeepers and I think Brazil have seven or eight who are quite capable of pulling on the national jersey."
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Julio Cesar also urged Brazil and the nation's fans to try to put the traumatic conclusion to their World Cup campaign behind them as quickly as possible.
"It [Brazil's failure] is a sad moment for Brazilian football," he said. "Now I think it is time to relax and try to forget about all of this."
Brazil suffered a humiliating 7-1 defeat at the hands of Germany in the semifinals before losing out on third place to Netherlands.